Tennessee § 13-30-116 Exemption from state taxes - Payment of unpaid taxes - Proceeds of sales - Revenue

Tennessee Statutes

§ 13-30-116 — Exemption from state taxes - Payment of unpaid taxes - Proceeds of sales - Revenue

Tennessee § 13-30-116

Title13

This text of Tennessee § 13-30-116 (Exemption from state taxes - Payment of unpaid taxes - Proceeds of sales - Revenue) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 13-30-116 (2026).

Text

(a)In accordance with §§ [former] 67-5-2505 [repealed], 67-5-2507, 67-5-2508, [former] 67-5-2509 [repealed], and [former] 67-5-2514 [repealed], the corporation is exempt from any state taxation.

(b)Additionally, the corporation has the power to pay any unpaid taxes due and owing by the owner of record of the real property, or make any government mandated improvements to the property.

(c)All proceeds from the sale of real property held in the land bank shall be returned to the corporation.

(d)All corporate revenue shall be held by the board of directors, and proceeds shall only go to furthering the aims of the acquisition and/or resale of real property by the corporation for the land bank.

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(a) In accordance with §§ [former] 67-5-2505 [repealed], 67-5-2507, 67-5-2508, [former] 67-5-2509 [repealed], and [former] 67-5-2514 [repealed], the corporation is exempt from any state taxation. (b) Additionally, the corporation has the power to pay any unpaid taxes due and owing by the owner of record of the real property, or make any government mandated improvements to the property. (c) All proceeds from the sale of real property held in the land bank shall be returned to the corporation. (d) All corporate revenue shall be held by the board of directors, and proceeds shall only go to furthering the aims of the acquisition and/or resale of real property by the corporation for the land bank.