TN HB0424This bill requests the Tennessee Department of Revenue to study the economic effects of allowing franchise and excise tax credits to be transferred to other individuals or entities. It requires a report on the findings to be submitted to the relevant legislative committees by January 1, 2026. The goal is to understand the potential impacts of making these tax credits transferable.
Supporters of the bill argue that studying the transferability of tax credits could lead to increased economic flexibility and growth. By allowing tax credits to be transferred, businesses might have more opportunities to optimize their financial strategies, potentially attracting more investment to Tennessee.
Critics might argue that the bill could complicate the tax system and lead to unintended consequences, such as reducing state tax revenues. They may also express concerns that transferring tax credits could primarily benefit larger businesses at the expense of smaller entities or individual taxpayers.
The analysis of HB0424, which concerns the transferability of franchise and excise tax credits, reveals no significant conflicts of interest with the sponsor, Charlie Baum's personal financial interests. Baum's professional background is in education, specifically as a Professor of Economics at Middle Tennessee State University. This occupation does not directly intersect with the industries affected by the bill, such as banking, securities, or consumer credit. The bill's focus on tax credits and their transferability does not present a direct financial benefit to Baum's role in academia. Therefore, the risk of a conflict of interest is minimal.
Unlike federal analysis based on campaign donations, state analysis examines legislators' personal financial interests — their jobs, businesses, and investments.
| Type | Description | Industry | Source |
|---|---|---|---|
| Occupation | Professor of Economics | Education | AI-researched |
| Employer | Middle Tennessee State University | Education | AI-researched |
| Employer | MIDDLE TENNESSEE STATE UNIVERSITY | Education | TN Ethics Commission |
| Employer | TEABERRY APARTMENTS | — | TN Ethics Commission |
| Employer | WHITE AVENUE APARTMENTS | — | TN Ethics Commission |
| Employer | HIGHLAND AVENUE APARTMENTS | — | TN Ethics Commission |
| Employer | CONDOMINIUM | — | TN Ethics Commission |
| Employer | BAUM ECONOMICS LLC | — | TN Ethics Commission |
| Employer | DIVIDENDS FROM STOCKS IN TD AMERITRADE ACCOUNT | — | TN Ethics Commission |
| Employer | DIVIDENDS FROM STOCKS IN ROTH IRA ACCOUNTS | — | TN Ethics Commission |
| Employer | DIVIDENDS FROM MUTUAL FUNDS IN 401K RETIREMENT ACCOUNT THROUGH MTSU MANAGED BY GREAT WEST | — | TN Ethics Commission |
| Employer | DIVIDENDS FROM DEFINED CONTRIBUTION RETIREMENT ACCOUNT THROUGH MTSU MANAGED BY VOYA | — | TN Ethics Commission |
| Business Owner | MIDDLE TENNESSEE STATE UNIVERSITY PROFESSOR OF ECONOMICS from Aug 1999 to current | Education | TN Ethics Commission |
| Business Owner | HIGHLAND AVENUE APARTMENTS LLC MEMBER from Jan 2016 to current | — | TN Ethics Commission |
| Business Owner | WHITE AVENUE APARTMENTS LLC MEMBER from Jan 2016 to current | — | TN Ethics Commission |
| Business Owner | BAUM ECONOMICS LLC MEMBER from Jan 2016 to current | — | TN Ethics Commission |
| Asset | APARTMENTS AT 806 AND 810 TEABERRY LANE IN KNOXVILLE, TENNESSEE | — | TN Ethics Commission |
| Asset | CONDOS AT 7015 AND 7017 TRADITIONAL DR. IN KNOXVILLE, TENNESSEE | — | TN Ethics Commission |
| Asset | APARTMENTS AT 1303 WHITE AVE. IN KNOXVILLE, TENNESSEE | — | TN Ethics Commission |
| Asset | APARTMENTS AT 1412 HIGHLAND AVE. IN KNOXVILLE, TENNESSEE | — | TN Ethics Commission |
Items marked "AI-researched" are generated from public sources but have not been independently verified. Verified data is sourced from official legislature websites and disclosure filings.
About This Analysis
This summary was generated using AI from the bill's official text and metadata. Data sourced from LegiScan and the Tennessee General Assembly. Conflict analysis examines the sponsor's personal financial interests for potential overlaps with the bill's subject matter.
