Tennessee lawmakers will need to reconcile their differences after the state House on Monday passed a smaller version of Gov. Bill Lee’s plan to overhaul the state’s franchise tax than what the state Senate approved last month.
The House voted 68-20 for a plan, HB 1893, that would cost $713 million in refunds, plus $400 million annually going forward. That’s below the Senate’s version, SB 2103, which would send about $1.5 billion to corporate taxpayers, in addition to reducing state revenue in future years. The Senate approved its version March 21 by a vote of 25-6.
The ...
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