Taxes, Exemption and Credits - As introduced, exempts a nonprofit religious institution from property taxes, under certain circumstances; applicable in Davidson County. - Amends TCA Section 67-5-212.

HB 426 would exempt nonprofit religious institutions in Davidson County from property taxes when they acquire land for religious purposes. It allows these institutions to claim retroactive tax exemptions up to three years before applying for the exemption, covering properties purchased before the law's effective date. The exemption applies only to properties used for the institution's religious activities, and counties are not required to refund taxes already paid prior to the law taking effect. This change specifically targets Davidson County due to its population exceeding 500,000 people.