Image Credit: Andre Porter (imagN Images) / CC
The Tennessee Conservative [By David Seal] –
State Senator London Lamar (D-Memphis) has written a letter of support to return proceeds from the Real Estate Transfer Tax to local county governments.
Each time a deed is recorded at the local level, a fee is paid for the transaction. Under current Tennessee Law, around 95% of those fees go to state coffers. Lamar supports Senate Bill 1080 / House Bill 0649, which will return 50% of the proceeds to county governments to be used for specified expenses.
She joins other legislators in urging Governor Lee to prioritize items in the state budget to help fund local governments with revenue generated by the Real Estate Transfer Tax.
Lamar serves in Tennessee Senate Leadership as the Senate Democratic Caucus Chair, and is a member of the Senate Finance, Ways and Means Committee, Judiciary Committee, and the Joint Ways and Means Committee.
The proposed legislation is popular with the County Governments Association and Public Officials Organization. Several county mayors and county commissions have made resolutions asking the legislature to prioritize funding for the bill.
At the present time, the Senate Bill has 10 co-sponsors while the House Companion Bill has 30 co-sponsors, an indication of the popularity of the proposed bill with legislators.
Lamar’s letter of support is provided below.
The legislation is pending in the House Finance Ways and Means Subcommittee and the Senate Finance Ways and Means Committee.
If you would like to express your opinion on SB1080 / HB0649, the contact information for the committees is provided below.
House Finance Ways and Means Subcommittee – HB0649 hearing date TBD.
HB0649 requires 50 percent of collections of the recordation tax levied on transfers of realty to be remitted to each county; requires counties to use such funds for transportation infrastructure, schools, and other nonrecurring expenses.
Rep.ryan.williams@capitol.tn.gov; rep.kip.capley@capitol.tn.gov; rep.jesse.chism@capitol.tn.gov; rep.mark.cochran@capitol.tn.gov; rep.john.crawford@capitol.tn.gov; rep.ron.gant@capitol.tn.gov; rep.john.gillespie@capitol.tn.gov; rep.gary.hicks@capitol.tn.gov; rep.tim.hicks@capitol.tn.gov; rep.antonio.parkinson@capitol.tn.gov; rep.lee.reeves@capitol.tn.gov; rep.johnny.shaw@capitol.tn.gov; rep.jason.zachary@capitol.tn.gov
Senate Finance Ways and Means Committee – SB1080 hearing date TBD.
SB1080 requires 50 percent of collections of the recordation tax levied on transfers of realty to be remitted to each county; requires counties to use such funds for transportation infrastructure, schools, and other nonrecurring expenses.
Sen.bo.watson@capitol.tn.gov; sen.john.stevens@capitol.tn.gov; sen.joey.hensley@capitol.tn.gov; sen.ferrell.haile@capitol.tn.gov; sen.jack.johnson@capitol.tn.gov; sen.london.lamar@capitol.tn.gov; sen.bill.powers@capitol.tn.gov; sen.paul.rose@capitol.tn.gov; sen.page.walley@capitol.tn.gov; sen.ken.yager@capitol.tn.gov; sen.jeff.yarbro@capitol.tn.gov
About the Author: David Seal is a retired Jefferson County educator, recognized artist, local businessman, 917 Society Volunteer, and past Chairman of the Jefferson County Republican Party. He has also served Jefferson County as a County Commissioner and is a citizen lobbyist for the people on issues such as eminent domain, property rights, education, and broadband accessibility on the state level. David is also a 2024 winner of The Tennessee Conservative Flame Award & has received an accolade from the Institute For Justice for successfully lobbing the TN legislature to protect property rights. David can be reached at david@tennesseeconservativenews.com.
