Tennessee · 114th Regular Session (2025-2026) · Bill

HB 988: Cooperatives - As enacted, specifies that the privilege tax exemption for subsidiaries of agricultural cooperatives applies without regard to whether the subsidiary was formed as a corporation, limited liability company, limited liability partnership, or other legal entity, association, or body vested with the power or function of a legal entity. - Amends TCA Title 43, Chapter 16, Part 1 and Section 67-4-102.

In committee Last action May 15, 2025: Comp. became Pub. Ch. 455

Plain-language summary

HB 988 is a bill introduced in the Tennessee House on February 5, 2025. According to its official title, it concerns: Cooperatives - As enacted, specifies that the privilege tax exemption for subsidiaries of agricultural cooperatives applies without regard to whether the subsidiary was formed as a corporation, limited liability company, limited liability partnership, or other legal entity, association, or body vested with the power or function of a legal entity. - Amends TCA Title 43, Chapter 16, Part 1 and Section 67-4-102. Primary sponsor: Pat Marsh (Republican). Most recent recorded action (May 15, 2025): Comp. became Pub. Ch. 455.

Sponsors

Primary sponsor: Pat Marsh (Republican).