HOUSE BILL NO. 1268

By Representatives Wood, Davis, Haley, Hargett, Pleasant, McDaniel, Stamps, Walley, Ford, Patton, Kerr, Beavers, Kent, Bird, Clabough, McKee, Newton, Scroggs, Walker, McAfee, Mumpower, Roach, Boyer

Substituted for: Senate Bill No. 1684

By Senators McNally, Elsea, Atchley, Person, Koella, Haun, Carter, Ramsey, Leatherwood, Gilbert, Miller

AN ACT to amend Tennessee Code Annotated, Section 67-4-805(b)(1)(D) and (2)(F) relative to the excise tax treatment of 26 U.S.C. Section 337 gains and losses.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

SECTION 1. Tennessee Code Annotated, Section 67-4-805(b), is amended by deleting subdivisions (1)(D) and (2)(F) in their entirety and relettering the subsequent items accordingly.

SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring it.