House Bill 526, sponsored by Scarbrough, proposes an amendment to the Tennessee Business Tax Act by modifying the time frame for certain tax-related provisions. Specifically, it changes the language in Tennessee Code Annotated, Section 67-4-715(g), by deleting the phrase "two (2) calendar months" and replacing it with "sixty (60) calendar days." This adjustment aims to clarify the duration for compliance or reporting requirements under the Business Tax Act.

The bill is set to take effect on July 1, 2025, emphasizing the need for public welfare in its implementation. This change is intended to streamline the business tax process and provide clearer guidelines for businesses operating in Tennessee.

Statutes affected:
Introduced: 67-4-715(g), 67-4-715