Amends TCA Section 67-4-2006.
ON APRIL 5, 2021, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 776, AS AMENDED.<br /> <br /> AMENDMENT #1 rewrites this bill to require that any amount received between March 1, 2020, and December 31, 2021, through the following programs funded by the coronavirus relief fund under the federal CARES Act, including any extension or modification thereof, or funded by appropriations under other federal law under Title VI of the Social Security Act, to mitigate the fiscal effects of COVID-19, be subtracted from the net earnings and losses to the extent such amount would otherwise be included in net earnings or loss for purposes of determining excise tax liability:<br /> <br /> (1) The Tennessee business relief program or the supplemental employer recovery grant program administered by the department of revenue;<br /> <br /> (2) The coronavirus agricultural and forestry business fund administered by the department of agriculture;<br /> <br /> (3) The hospital staffing assistance program or the emergency medical services ambulance assistance program administered by the department of health; or<br /> <br /> (4) The Tennessee small and rural hospital readiness grants program administered by the departments of economic and community development and finance and administration.<br /> <br /> This amendment also requires that any amount received between March 1, 2020, and December 31, 2021, out of the additional funds allocated to the payments to states for the child care and development block grant under the federal CARES Act, including any extension or modification thereof and the Further Consolidated Appropriations Act, 2020, or received between March 1, 2020, and December 31, 2021, out of additional funds allocated to the payments to states for the child care and development block grant under other federal law enacted to mitigate the fiscal effects of COVID-19, and administered by the department of human services, be subtracted from the net earnings and losses to the extent such amount would otherwise be included in net earnings or net loss for purposes of determining excise tax liability.<br />
ON APRIL 5, 2021, THE HOUSE ADOPTED AMENDMENT #1 AND PASSED HOUSE BILL 776, AS AMENDED.<br /> <br /> AMENDMENT #1 rewrites this bill to require that any amount received between March 1, 2020, and December 31, 2021, through the following programs funded by the coronavirus relief fund under the federal CARES Act, including any extension or modification thereof, or funded by appropriations under other federal law under Title VI of the Social Security Act, to mitigate the fiscal effects of COVID-19, be subtracted from the net earnings and losses to the extent such amount would otherwise be included in net earnings or loss for purposes of determining excise tax liability:<br /> <br /> (1) The Tennessee business relief program or the supplemental employer recovery grant program administered by the department of revenue;<br /> <br /> (2) The coronavirus agricultural and forestry business fund administered by the department of agriculture;<br /> <br /> (3) The hospital staffing assistance program or the emergency medical services ambulance assistance program administered by the department of health; or<br /> <br /> (4) The Tennessee small and rural hospital readiness grants program administered by the departments of economic and community development and finance and administration.<br /> <br /> This amendment also requires that any amount received between March 1, 2020, and December 31, 2021, out of the additional funds allocated to the payments to states for the child care and development block grant under the federal CARES Act, including any extension or modification thereof and the Further Consolidated Appropriations Act, 2020, or received between March 1, 2020, and December 31, 2021, out of additional funds allocated to the payments to states for the child care and development block grant under other federal law enacted to mitigate the fiscal effects of COVID-19, and administered by the department of human services, be subtracted from the net earnings and losses to the extent such amount would otherwise be included in net earnings or net loss for purposes of determining excise tax liability.<br />
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