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

SB 1002: 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.

Enacted Last action May 15, 2025: Pub. Ch. 455

Plain-language summary

SB 1002 is a bill introduced in the Tennessee Senate 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: Ferrell Haile (Republican). Most recent recorded action (May 15, 2025): Pub. Ch. 455.

Sponsors

Primary sponsor: Ferrell Haile (Republican).