Senate Bill 430, also known as House Bill 424, proposes an amendment to the Tennessee Code Annotated regarding franchise and excise tax credits. The bill urges the Department of Revenue to conduct a study on the economic impact of allowing all franchise and excise tax credits to be transferable to any person or entity, rather than being restricted to the original recipient of the credits. The findings and recommendations from this study are to be reported to the relevant committees in both the Senate and House of Representatives by January 1, 2026.

The bill does not include any specific insertions or deletions to current law but emphasizes the importance of evaluating the potential benefits of making tax credits more flexible and transferable. The act is set to take effect immediately upon becoming law, highlighting its urgency in addressing tax-related matters.