Top Legislation - View All
Latest Action: 06/19/2007 - Public Chapter 376 Bill TextCompanion Bill SB0570. Education - Creates and expands certain accountability provisions for school systems, directors of schools, principals, teachers, and teacher training programs. - Amends TCA Title 3; Title 4; Title 5; Title 6; Title 7; Title 8; Title 9; Title 12; Title 16; Title 30; Title 36; Title 39; Title 40; Title 45; Title 47; Title 48; Title 49; Title 55; Title 56; Title 57; Title 61; Title 62; Title 67; Title 68; Title 69; Title 70 and Title 71. Fiscal Summary for *HB0472 / SB0570Decrease State Revenues - $11,822,000 / General Fund $26,514,000 / Education Fund $1,870,000 / Earmarked to Local Govt. $150,000 / Department of Revenue $374,000 / Sinking Fund Decrease Local Govt. Revenues - $1,870,000 Bill Summary for *HB0472 / SB0570 ON MAY 31, 2007, THE HOUSE [...] show full description
Latest Action: 06/19/2007 - Companion became Public Chapter 376 Bill TextCompanion Bill HB0472. Education - Creates and expands certain accountability provisions for school systems, directors of schools, principals, teachers, and teacher training programs. - Amends TCA Title 3; Title 4; Title 5; Title 6; Title 7; Title 8; Title 9; Title 12; Title 16; Title 30; Title 36; Title 39; Title 40; Title 45; Title 47; Title 48; Title 49; Title 55; Title 56; Title 57; Title 61; Title 62; Title 67; Title 68; Title 69; Title 70 and Title 71. Fiscal Summary for SB0570 / *HB0472Decrease State Revenues - $11,822,000 / General Fund $26,514,000 / Education Fund $1,870,000 / Earmarked to Local Govt. $150,000 / Department of Revenue $374,000 / Sinking Fund Decrease Local Govt. Revenues - $1,870,000 Bill Summary for SB0570 / *HB0472 ON MAY 31, 2007, THE HOUSE [...] show full description
Latest Action: 06/06/2007 - Taken Off Notice For Calendar in Subcommittee Budget of Finance, Ways and Means of Finance, Ways & Means Committee Bill TextImmigrants - Revokes franchise and excise tax exemptions or credits of any person who knowingly employs an illegal immigrant in this state. - Amends TCA Title 67. Fiscal Summary for *HB0429 / SB0931Increase State Expenditures - $354,000 Recurring $170,000 One-Time Other Fiscal Impact - An increase to franchise and excise tax revenues for the state. However, the extent of any increased state revenues cannot be quantified because any such amount is dependent upon multiple unknown factors.
Latest Action: 03/20/2007 - Assigned to Gen. Sub of: Senate Tax Sub Committee of F,W&M. Bill TextImmigrants - Revokes franchise and excise tax exemptions or credits of any person who knowingly employs an illegal immigrant in this state. - Amends TCA Title 67. Fiscal Summary for SB0931 / *HB0429Increase State Expenditures - $354,000 Recurring $170,000 One-Time Other Fiscal Impact - An increase to franchise and excise tax revenues for the state. However, the extent of any increased state revenues cannot be quantified because any such amount is dependent upon multiple unknown factors.
Latest Action: 06/27/2007 - Public Chapter 500 Bill TextCompanion Bill SB2198. Taxes - Enacts the "Local Tourism Development Zone Business Tax Act." - Amends TCA Title 67. Fiscal Summary for *HB2296 / SB2198State Revenues - Net Impact - Not Significant Bill Summary for *HB2296 / SB2198 This bill revises various provisions of the state's tax code, as follows: (1) Present law imposes a tax on the recordation of transfers of realty. Certain transfers are exempt from the tax, including transfers of real estate to a revocable living trust. This bill revises the exemption from the recordation tax regarding revocable trusts to instead exempt the transfers of real estate to a revocable living trust under which the real estate reverts back to the transferor if the trust is revoked. (2) Under present law, the minimum franchise tax payable under the Franchise Tax Law is $100. This bill [...] show full description
Latest Action: 06/27/2007 - Companion became Public Chapter 500 Bill TextCompanion Bill HB2296. Taxes - Enacts the "Local Tourism Development Zone Business Tax Act." - Amends TCA Title 67. Fiscal Summary for SB2198 / *HB2296State Revenues - Net Impact - Not Significant Bill Summary for SB2198 / *HB2296 This bill revises various provisions of the state's tax code, as follows: (1) Present law imposes a tax on the recordation of transfers of realty. Certain transfers are exempt from the tax, including transfers of real estate to a revocable living trust. This bill revises the exemption from the recordation tax regarding revocable trusts to instead exempt the transfers of real estate to a revocable living trust under which the real estate reverts back to the transferor if the trust is revoked. (2) Under present law, the minimum franchise tax payable under the Franchise Tax Law is $100. This bill [...] show full description
Latest Action: 05/09/2007 - Action Deferred in Subcommittee Budget of Finance, Ways and Means to 1/1/2008 Bill TextTaxes, Exemption and Credits - Requires companies locating in state to establish defined benefit plans and health insurance prior to receiving tax credits and state funding. - Amends TCA Title 4; Title 12; Title 53 and Title 67. Fiscal Summary for *HB0057 / SB1446Increase State Expenditures - $10,000 One-Time Other Fiscal Impact - The direct impact upon state tax collections is dependent upon several unknown factors. Tax revenue collections could increase if firms were unwilling or failed to comply with the provisions of this bill. However, tax revenue collections could decrease if more firms were willing to provide retirement and health insurance benefits to their employees in exchange for available tax credits.
Latest Action: 05/15/2007 - Taken Off Notice For Calendar in: State & Local Government Committee Bill TextCompanion Bill SB0320. Taxes, Exemption and Credits - Removes 100-acre limitation on exemption of land used for activities such as recreation, retreats, or sanctuaries and which is not necessary to support exempt structures or site improvements for property owned or used by religious, charitable, scientific, or educational membership nonprofit organizations chartered by the U.S. Congress. - Amends TCA Title 67, Chapter 5. Fiscal Summary for HB0466 / *SB0320 On February 11, 2007 we issued a fiscal note on this bill which indicated a decrease in local government revenues exceeding $50,000 in FY07-08 and exceeding $80,000 in FY08-09. Based upon additional information concerning the number of additional acres that would be exempt under the provisions of the bill, the corrected fiscal impact is: (CORRECTED) Decrease Local Govt. Revenues - Exceeds $28,000 FY07-08 [...] show full description
Latest Action: 04/18/2007 - Taken Off Notice For Calendar in Subcommittee Budget of Finance, Ways and Means of Finance, Ways & Means Committee Bill TextCompanion Bill SB0569. Taxes, Exemption and Credits - Precludes the commissioner of revenue from exercising certain enforcement measures until final adjudication of certain appeals filed by certain not-for-profit taxpayers. - Amends TCA Title 48 and Title 67. Fiscal Summary for *HB0471 / SB0569Decrease State Revenues - Not Significant Increase State Expenditures - Not Significant Bill Summary for *HB0471 / SB0569 Under present law, if a taxpayer against whom an assessment is made believes the assessment to be unjust, illegal or incorrect, the taxpayer's remedies are as follows: (1) The taxpayer may pay the tax and file a claim for refund of the tax and proceed as provided under the present law provisions for disputed taxes; or (2) The taxpayer may file suit against the commissioner in chancery court in the appropriate county [...] show full description
Latest Action: 05/03/2007 - Public Chapter 66 Bill TextTaxes, Exemption and Credits - Specifies that the local approval required by a county in order for property owned by a nonprofit community and performing arts organization to be eligible for a property tax exemption as a charitable or educational use of property must be approval by a two-thirds vote. - Amends TCA Title 67, Chapter 5, Part 10. Fiscal Summary for *HB1461 / SB2067 MINIMAL
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Latest Legislation - View All
Latest Action: 05/14/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 05/19/2008 Bill TextSports - Modifies certain statutory provisions pertaining to sports authorities and tax incentives. - Amends TCA Title 7, Chapter 67; Title 67, Chapter 4 and Title 67, Chapter . Fiscal Summary for *HB3919 / SB4010Decrease State Revenue - $157,500 Increase Local Revenue - $157,500 Other Fiscal Impact - Additional foregone state revenue, and offsetting increases to local government revenue, of unknown amounts if additional Southern Professional Hockey League teams locate in Tennessee as a result of this legislation. In addition, there could be a subsequent decrease of state revenue of an unknown amount estimated to exceed $50,000 in FY11-12 occurring as a result of extending the deadline for creating a required number of jobs in order to be eligible for job tax credits.
Latest Action: 04/08/2008 - Assigned to Gen. Sub of: Senate Tax Sub Committee of F,W&M. Bill TextSports - Modifies certain statutory provisions pertaining to sports authorities and tax incentives. - Amends TCA Title 7, Chapter 67; Title 67, Chapter 4 and Title 67, Chapter . Fiscal Summary for SB4010 / *HB3919Decrease State Revenue - $157,500 Increase Local Revenue - $157,500 Other Fiscal Impact - Additional foregone state revenue, and offsetting increases to local government revenue, of unknown amounts if additional Southern Professional Hockey League teams locate in Tennessee as a result of this legislation. In addition, there could be a subsequent decrease of state revenue of an unknown amount estimated to exceed $50,000 in FY11-12 occurring as a result of extending the deadline for creating a required number of jobs in order to be eligible for job tax credits.
Latest Action: 02/20/2008 - Assigned to Subcommittee Budget of FW&M Bill TextCompanion Bill SB4005. Taxes, Business - Authorizes certain credits relative to certain business taxes. - Amends TCA Title 67, Chapter 4, Part 7. Fiscal Summary for HB3956 / *SB4005Decrease State Revenue - Exceeds $500,000 Increase State Expenditures1 - $36,000/One-Time Bill Summary for HB3956 / *SB4005 Under present law, the following credits, among others, may be taken by persons filing and paying the business tax: (1) Personal property taxes properly paid pursuant to present law. Personal property taxes assessed pursuant to audit and subsequently paid may be taken as a credit either on the business tax return filed for the year in which the additional personal property tax was paid or on the return covering the immediately previous year. Personal property taxes paid subsequent to the due date for business taxes in any year,[...] show full description
Latest Action: 02/06/2008 - Referred to Senate Tax Sub Comm. Bill TextCompanion Bill HB3956. Taxes, Business - Authorizes certain credits relative to certain business taxes. - Amends TCA Title 67, Chapter 4, Part 7. Fiscal Summary for *SB4005 / HB3956Decrease State Revenue - Exceeds $500,000 Increase State Expenditures1 - $36,000/One-Time Bill Summary for *SB4005 / HB3956 Under present law, the following credits, among others, may be taken by persons filing and paying the business tax: (1) Personal property taxes properly paid pursuant to present law. Personal property taxes assessed pursuant to audit and subsequently paid may be taken as a credit either on the business tax return filed for the year in which the additional personal property tax was paid or on the return covering the immediately previous year. Personal property taxes paid subsequent to the due date for business taxes in any year,[...] show full description
Latest Action: 05/14/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 05/19/2008 Bill TextTaxes, Exemption and Credits - Exempts from sales tax authorized All American Football League® goods and products sold by the league within any county in which professional football games of the league are played; also exempts the sales price of admissions and related fees for professional football games of the league played in this state. - Amends TCA Section 67-6-329 and Section 67-6-330. Fiscal Summary for HB3970 / *SB4049Foregone State Revenue - Exceeds $125,000/FY07-08 Exceeds 500,000/FY08-09 and Succeeding Years Foregone Local Revenue - Exceeds $40,000/FY07-08 Exceeds $160,000/FY08-09 and Succeeding Years
Latest Action: 02/20/2008 - Assigned to Subcommittee Budget of FW&M Bill TextCompanion Bill SB2987. Taxes, Exemption and Credits - Provides that kerosene sold over-the-counter, or sold in any other manner, directly to the consumer for residential use shall be exempt from sales tax. - Fiscal Summary for HB4090 / *SB2987Decrease State Revenue - $601,400 Bill Summary for HB4090 / *SB2987 Under present law, gas, electricity, fuel oil, coal, and other energy fuels sold directly to the consumer for residential use are exempt from the sales tax. The tax exemption does not apply to energy fuels sold over the counter at the location of the seller; however, propane sold over the counter in cylinders with a capacity of 100 pounds or more is exempt from the sales tax. This bill exempts kerosene that is sold directly to the consumer for residential use from the sales tax.
Latest Action: 05/07/2008 - Taken Off Notice For Calendar in Subcommittee Budget of Finance, Ways and Means of Finance, Ways & Means Committee Bill TextCompanion Bill SB2551. Taxes, Exemption and Credits - Allows a job tax credit against franchise and excise taxes in an amount equal to 25 percent of the portion of the employer/taxpayer's Federal Work Opportunity tax credit that is directly attributable to employment of ex-felons during the tax year. - Amends TCA Title 67, Chapter 4, Part 20 and Title 67, Chapter 4, Part 21. Fiscal Summary for HB4133 / *SB2551Decrease State Revenue - $234,400 Bill Summary for HB4133 / *SB2551 This bill allows an employer a job tax credit against excise and franchise taxes in an amount equal to 25 percent of the portion of the employer's federal Work Opportunity Tax Credit (WOTC) that is directly attributable to the employment of ex-felons during the tax year. Generally, under the federal WOTC, employers get tax credit for certain new hires, including a member [...] show full description
Latest Action: 03/11/2008 - Assigned to Gen. Sub of: Senate Tax Sub Committee of F,W&M. Bill TextTaxes, Exemption and Credits - Exempts from sales tax authorized All American Football League® goods and products sold by the league within any county in which professional football games of the league are played; also exempts the sales price of admissions and related fees for professional football games of the league played in this state. - Amends TCA Section 67-6-329 and Section 67-6-330. Fiscal Summary for *SB4049 / HB3970Foregone State Revenue - Exceeds $125,000/FY07-08 Exceeds 500,000/FY08-09 and Succeeding Years Foregone Local Revenue - Exceeds $40,000/FY07-08 Exceeds $160,000/FY08-09 and Succeeding Years
Latest Action: 02/20/2008 - Assigned to Subcommittee Budget of FW&M Bill TextCompanion Bill SB3936. Taxes, Income - Provides a Hall income tax deduction for premiums paid by the taxpayer for long-term care insurance for the taxpayer or the taxpayer's spouse or dependent. - Amends TCA Title 67, Chapter 2, Part 1. Fiscal Summary for HB3948 / *SB3936Increase State Expenditures - $70,000 / One-Time Decrease State Revenue - $1,250,000 / FY08-09 $2,500,000 / FY09-10 and thereafter Decrease Local Revenue - $750,000 / FY08-09 $1,500,000 / FY09-10 and thereafter Bill Summary for HB3948 / *SB3936 Present law imposes a 6 percent tax on incomes derived by way of dividends from stocks or by way of interest on bonds (known as the Hall income tax). This bill allows a credit against the Hall income tax. The credit would be in an equal to the total amount of premiums paid by the taxpayer during [...] show full description
Latest Action: 05/14/2008 - Placed on Subcommittee Calendar Budget of Finance, Ways and Means for 05/19/2008 Bill TextCompanion Bill SB4106. Taxes, Sales - Exempts from sales and use tax, sales of books by nonprofit public library support organizations, if the proceeds of such sales are dedicated to public library use; entitles such organizations to have monthly sales of books pursuant to this exemption. - Amends TCA Title 67, Chapter 6. Fiscal Summary for HB4138 / *SB4106(CORRECTED) Decrease State Revenue - $52,400 Foregone State Revenue - $58,900 Increase State Expenditures - $5,000 / One-Time Decrease Local Revenue - $16,800 Foregone Local Revenue - $18,900 Bill Summary for HB4138 / *SB4106 This bill exempts book sales by nonprofit public library support organizations from sales and use tax, if the proceeds of such sales are dedicated to public library use. In order to be eligible for the sales tax exemption, a nonprofit public library support [...] show full description
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