HB 424: Taxes - As introduced, urges the department of revenue to study the potential economic impact of making all franchise and excise tax credits transferable to any person or entity other than the entity to whom or to which the credits are initially made available pursuant to the statute creating the credit; requires the department to report to the finance, ways and means committee of the senate and the committee in the house of representatives having jurisdiction over tax-related matters on or before January 1, 2026 if such study is conducted. - Amends TCA Title 67, Chapter 4, Part 20 and Title 67, Chapter 4, Part 21.

Plain-language summary

HB 424 is a bill introduced in the Tennessee House on January 28, 2025. According to its official title, it concerns: Taxes - As introduced, urges the department of revenue to study the potential economic impact of making all franchise and excise tax credits transferable to any person or entity other than the entity to whom or to which the credits are initially made available pursuant to the statute creating the credit; requires the department to report to the finance, ways and means committee of the senate and the committee in the house of representatives having jurisdiction over tax-related matters on or before January 1, 2026 if such study is conducted. - Amends TCA Title 67, Chapter 4, Part 20 and Title 67, Chapter 4, Part 21. Primary sponsor: Charlie Baum (Republican). Most recent recorded action (April 9, 2025): Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written