Tennessee HB 2247: Taxes - As introduced, tolls the six-year period in which taxes may be collected upon imposition of a bankruptcy stay or filing of other proceeding prohibiting collection action. - Amends TCA Title 67.

Bill Text

HB2247
011592
-1-

<BillNo> <Sponsor>

HOUSE BILL 2247
By Lamberth

AN ACT to amend Tennessee Code Annotated, Title 67,
relative to taxation.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-1-1429(a), is amended by adding
the following as a new subdivision (5):
(5) The period for collection provided in subdivision (a)(1)(A) ceases running
upon the imposition of a bankruptcy stay as provided in 11 U.S.C. § 362 or upon the
filing of a probate, receivership, or assignment for benefit of creditors proceeding. Such
period recommences running thirty (30) days after the stay is lifted or the proceeding
prohibiting collection ends.
SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring
it.