Public Chapter 195
SENATE BILL NO. 1588
Substituted for: House Bill No. 628
By Garrett, Halteman Harwell, Pruitt
AN ACTTo amend Tennessee Code Annotated, Section 67-5-601, relative to valuation of certain residential property zoned for commercial use in any county having a metropolitan form of government.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-5-601(c), is amended by deleting subdivision (6) in its entirety.
SECTION 2. Tennessee Code Annotated, Section 67-5-601, is further amended by deleting the words "occupied by that owner" in subsection (c)(3)(A) and substituting instead the words "occupied by that owner or a person to whom the current owner is a lineal descendent".
SECTION 3. This act shall take effect upon becoming law, the public welfare requiring it, and shall apply to the 1997 tax year and subsequent years.