Small Business Growth and Empowerment Act
Amends TCA Title 4, Chapter 3, Part 7 and Title 67, Chapter 4.
Tennessee HB0952, titled the "Small Business Growth and Empowerment Act," establishes a dedicated fund to support economic development activities for minority-owned and women-owned businesses in underserved areas. The bill also introduces a tax credit for qualifying small businesses, allowing them to receive a credit equal to 50% of their business tax liability, contingent upon meeting specific criteria related to local hiring or workforce training. Key provisions include the fund's composition from state appropriations and donations, as well as requirements for quarterly reporting on fund commitments and expenditures.
Tennessee HB0952, titled the "Small Business Growth and Empowerment Act," establishes a dedicated fund to support economic development activities for minority-owned and women-owned businesses in underserved areas. The bill also introduces a tax credit for qualifying small businesses, allowing them to receive a credit equal to 50% of their business tax liability, contingent upon meeting specific criteria related to local hiring or workforce training. Key provisions include the fund's composition from state appropriations and donations, as well as requirements for quarterly reporting on fund commitments and expenditures.
Track Tennessee Legislation Like a Pro
Join hundreds of professionals using LegisGo to stay ahead of legislative changes.
Instant Alerts
Get notified when bills you track move through the legislature
AI Summaries
Understand complex legislation in seconds with AI-powered analysis
Full Access
All 132 legislators, committee schedules, and voting records
Brooks, Shaundelle
114th General Assembly
February 4, 2025
March 18, 2026
Def. to Summer Study in Business & Utilities Subcommittee