HB 431: Taxes, Excise - As introduced, enacts the "CEO Pay Disparity Tax Act," which imposes a pay disparity surcharge in the amount of an additional 0.1 percent to the standard 6.5 percent excise tax rate on each company whose top executive is paid at least 100 times more than the median income of the company's employees. - Amends TCA Title 67, Chapter 4.

Plain-language summary

HB 431 is a bill introduced in the Tennessee House on January 28, 2025. According to its official title, it concerns: Taxes, Excise - As introduced, enacts the "CEO Pay Disparity Tax Act," which imposes a pay disparity surcharge in the amount of an additional 0.1 percent to the standard 6.5 percent excise tax rate on each company whose top executive is paid at least 100 times more than the median income of the company's employees. - Amends TCA Title 67, Chapter 4. Primary sponsor: Justin Jones (Democratic). Most recent recorded action (March 19, 2025): Assigned to s/c Finance, Ways, and Means Subcommittee.

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