Lawmakers pass bill that gives businesses a $1.5-billion tax break last day of session
Both the House and Senate have ended their session for the year.
NASHVILLE, Tenn. (WSMV) - Thursday lawmakers gaveled in one more time for the legislative session. During Thursday’s floor sessions, a bill that would give businesses a $1.5-billion tax break was passed in both the House and Senate.
The House floor session once again turned chaotic when protestors unveiled a banner in the gallery and started chanting the words “vote them out” as lawmakers went to recess.
The big bill that passed on both floors is Gov. Bill Lee’s franchise and excise tax deal. That would offer businesses in Tennessee three years of refunds. Lawmakers said those who qualify for the refund will have to share the information with the public for 30 days. They would also not be able to sue the state under the legislation.
Thursday lawmakers went back and forth in the House and Senate after a conference committee.
“This is a compromise with our friends in the House that the Senate is not particularly comfortable with, but we realize the importance of this legislation and the importance of the three year look back in this legislation,” said Sen. Bo Watson, R-Hixson.
“At the end of the day this is an unprecedented financial transfer of private entities of taxpayer dollars,” added Sen. Jeff Yarbro, D-Nashville.
In the House floor session, Democrats were worried if the tax cuts would go to companies outside the state.
“A majority of this money is going out of state,” said Rep. Bo Mitchell, D-Nashville. “He’s talking about raises and promotions for people, this money is going out of state.”
“Again, I am reading directly from what I got from the department of Revenue and many of you all have,” said House Majority Leader William Lamberth, R-Portland. “But 81% of eligible taxpayers are located right here in TN – 81% that leaves 19% that are not.”
Members of the House and Senate passed a slew of bills this session that have been signed or are on Governor Lee’s desk. One bill allows school employees to carry a concealed gun that caught the attention of the nation after moms from the Covenant School came out against it.
“My son is sitting right here because he was protected by his teacher that day,” said Melissa Alexander at a press conference earlier this month.
As for bills that failed, those include one that would allow people to openly carry assault rifles, and another that would ban pride flags in schools.
The biggest defeat for the governor is the private school voucher legislation or the “Education Freedom Scholarships”. The House and Senate spent weeks in conversation about their different bills but could not come to an agreement.
“We’ve sat down and what we get back is they don’t like the House version,” said Speaker of the House Cameron Sexton, R-Crossville, at a press conference earlier in April. “And so we sit back down and we have more conversations.”
Lee has said he plans to push the voucher legislation next year.
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