Homestead Exemption Bill Hits a Snag
We have a couple of big updates on the state-level advocacy front to report. First, our bill to increase the Homestead Exemption hit a massive snag as Legal Services filed it with the wrong caption. This essentially renders the bill inoperable because the bill would change sections of the TN code that are not covered by the caption – which isn’t allowed. We’re still working through the processes on what it means for this year, but the likelihood of success isn’t that good right now and requires going through a Committee called Delayed Bills. We’ll keep you posted should there be any future movement.
On the Interchange front, we feel quite confident in our position in the House Banking & Consumer Affairs Committee and have been continuously working to ensure that the bill dies there. Similar to last year, on the Senate side of things, the story is a little different. The bill will be in front of the Revenue Subcommittee of Senate Finance, Ways & Means next week. That committee will attach a positive, negative, or neutral recommendation to the legislation. While we cannot kill it in Revenue Sub, we’re working with the full committee now to prepare for when it does arrive in full.