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TN HB0431

Bill

Official Source

Status

Introduced

1/28/2025

Primary Sponsor

Justin Jones

Click for details

Origin

House of Representatives

114th General Assembly

AI Summary

  • Imposes a pay disparity surcharge on companies doing business in Tennessee whose top executive earns at least 100 times more than the median employee income

  • Surcharge rate is an additional 0.1% added to the existing excise tax rate on the company's net earnings for business conducted in the state

  • Department of Revenue must promulgate rules to implement the act in accordance with the Uniform Administrative Procedures Act

  • Takes effect July 1, 2025, and applies to tax years beginning on or after that date

Legislative Description

AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, relative to the "CEO Pay Disparity Tax Act."

Taxes, Excise

Last Action

Assigned to s/c Finance, Ways, and Means Subcommittee

3/19/2025

Committee Referrals

Finance, Ways & Means3/17/2025
Government Operations2/5/2025

Full Bill Text

No bill text available