Amends TCA Title 67, Chapter 4, Part 20 and Title 67, Chapter 4, Part 21.
Tennessee HB0424 urges the Department of Revenue to study the potential economic impact of allowing all franchise and excise tax credits to be transferable to any person or entity other than the original recipient. The bill affects entities that currently receive these tax credits and aims to explore the implications of such a policy change. Key provisions include a requirement for the department to report findings to the Senate Finance, Ways and Means Committee and the relevant House committee by January 1, 2026, if the study is conducted.
Tennessee HB0424 urges the Department of Revenue to study the potential economic impact of allowing all franchise and excise tax credits to be transferable to any person or entity other than the original recipient. The bill affects entities that currently receive these tax credits and aims to explore the implications of such a policy change. Key provisions include a requirement for the department to report findings to the Senate Finance, Ways and Means Committee and the relevant House committee by January 1, 2026, if the study is conducted.
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