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Urge Lawmakers to Support Franchise Tax Cut:
Last week, the Tennessee Chamber of Commerce released a statement announcing support for efforts to reform Tennessee’s franchise tax by removing the alternative minimum measure, which will provide tax relief to the business community and make the state more competitive. Governor Bill Lee proposed the franchise tax changes in his state of the state address noting constitutional concerns and the need to fix the issue to avoid substantial legal risk for Tennessee. The proposal would result in hundreds of millions of dollars in annual tax savings for businesses across the state.
The Chamber encourages business people to contact their lawmakers to urge them to pass the proposed tax cut and refund package.
KEY EDUCATION COMMITTEES ADVANCE EDUCATION SAVINGS ACCOUNT BILLS: The differing House and Senate versions of statewide Education Savings Account expansion efforts advanced through key committees. The House version of a bill expanding Education Savings Accounts will move on to the Government Operations Committee. The Senate’s version will head to the Finance Committee.
HOUSE VOTES TO PREVENT LOCALITIES FROM LIMITING LAW ENFORCEMENT’S ABILITY TO ENFORCE LAWS: This bill would prevent cities from enacting ordinances that restrict law enforcement agencies from conducting traffic stops where the officer has a reasonable suspicion that the law has been violated.
BILL CLARIFYING DEFINITION OF “WORK” WORKING ITS WAY TO GOVERNOR: Legislation aligning the state’s definition of “work” with current federal law passed the Senate on a party-line vote and is headed to Governor Lee for signature. The measure is designed to make employers less vulnerable to litigation from employees by clarifying activities such as driving to and from work or the time taken to ride in an elevator to their workplace, do not count as work.
COMMITTEE DEFEATS ANTI-CASHLESS MEASURE: A bill that would have required businesses with more than six employees to accept cash as payment for in-person transactions failed in Tuesday’s House Banking & Consumer Affairs Subcommittee.
HOUSE VOTES TO ALLOW LOWER LOCAL SALES TAXES ON GROCERIES: In a near-unanimous vote, the House favored legislation that would allow counties and municipalities to reduce the local option portion of sales taxes on groceries.
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