TBA Law Blog


Posted by: Stacey Shrader Joslin on Apr 10, 2024

The House on Monday approved its version of Gov. Bill Lee’s proposed business franchise tax-cut bill, which would provide one-year refunds of $700 million to companies but require they first agree to public disclosure of their names and rebate amounts before seeing any of the money. The move sends the bill back to the Senate, where Lt. Gov. Randy McNally, R-Oak Ridge, has voiced support for the disclosure provision, the Tennessee Journal reports. Bill negotiators also will have to resolve differences in the length of the program as the Senate had approved a three-year benefit, and whether to accept a House provision requiring participating companies to waive their right to sue over the tax. The Tennessean reports on those differences.