Tennessee Code Title 67. Taxes and Licenses § 67-5-1808

(a) Notwithstanding any general law or any private act to the contrary, the county trustee may accept prepayments and partial payments of property taxes, including, but not limited to, payment by electronic transfers, bank customer preauthorized payments, wire transfers or ACH credits, for the current tax year prior to the date the tax rate is established for the current tax year. Any prepayment or partial payment of property taxes for the current tax year that is received before the later of July 1 or the date the property tax rate for the current year is established shall be held by the trustee in a designated revenue account established to hold undistributed taxes and then transferred to the revenue account established for the current year's taxes after the later of July 1 or the date the property tax rate for the current year is adopted by the county legislative body.

(b) Prior to any county trustee accepting prepayment or partial payment of property taxes in accordance with this section, the county trustee shall file a plan with the comptroller of the treasury at least thirty (30) days prior to the acceptance of the payments. The comptroller of the treasury must acknowledge the receipt of the plan and provide written comments regarding the plan to the trustee prior to implementation. The plan should contain the following:

(d) If a prepayment or partial payment of property taxes is accepted, such prepayment or partial payment does not release the tax lien on the property upon which the taxes were assessed and such prepayment or partial payment is non-refundable.

(e) This section is known and may be cited as the “Representative Mike Carter Preservation Act.”