HOUSE BILL NO. 1227

By Representative Kisber

Substituted for: Senate Bill No. 649

By Senator McNally

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 67-4-409(b)(1), is amended by inserting the words "financing statements filed pursuant to the Uniform Commercial Code which secure an interest solely in investment property" between the words "materialmen's liens" and the words " and mortgages or deeds".

SECTION 2. This act shall take effect January 1, 1998, the public welfare requiring it.