HB3688 - Tennessee - Economic And Community Development, Taxes, Excise, Taxes, Franchise

Companion Bill SB3273. Economic and Community Development - Extends certain job tax credits to qualified business located within federally designated empowerment zones; includes certain high-tech businesses within the definition of qualified businesses to receive certain job tax credits. - Amends TCA Section 67-4-2109 and Section 67-6-232. Fiscal Summary for HB3688 / *SB3273Decrease State Revenue - Exceeds $250,000 Other Fiscal Impact - If future taxpayers are eligible for such tax credit as a result of this legislation, but would not have been under current law, there would be an unknown amount of foregeone state revenue in future years. In addition, there could be subsequent economic growth and business activity that may aid the state growing its tax base. However, such impact is indirect and not quantifiable for the purpose of this fiscal note. Bill [...]

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