Tennessee House Bill HB0243

Tennessee 2023-2024 Regular Session

• Introduced: 1/17/23
• Refer: 1/21/23

Caption

AN ACT to amend Tennessee Code Annotated, Section 67-6-228 and Title 67, Chapter 6, Part 3, relative to taxation.

Impact

The proposed amendment to the Tennessee Code Annotated, specifically Section 67-6-393(j), modifies existing tax legislation to include an exemption that could alleviate the financial burden on senior citizens regarding their food purchases. By including provisions on food sales, the bill represents an acknowledgment of the unique economic challenges faced by the elderly population, particularly those on fixed incomes. This law may encourage increased spending among seniors during the exempt period, contributing positively to both their quality of life and local economic activity.

Summary

House Bill 0243 introduces a temporary tax exemption for the retail sale of food and food ingredients in Tennessee for individuals aged seventy (70) years or older. This exemption is applicable during a specific time frame from July 1, 2023, to September 30, 2023. The bill aims to provide financial relief for the elderly, particularly during periods when food prices may be elevated, thereby supporting their purchasing power and overall well-being.

Sentiment

The sentiment surrounding HB 0243 is largely supportive, particularly among those advocating for senior citizen welfare. Proponents of the bill appreciate the efforts to lessen economic burdens on the elderly, viewing the tax exemption as a common-sense approach to assist a vulnerable demographic. However, some legislators may express concerns about the temporary nature of the exemption and its potential impact on state revenue, suggesting that more permanent solutions could be explored to better assist this population in the long term.

Contention

While the bill has garnered support, there may be points of contention regarding its fiscal implications for Tennessee's overall tax revenue. Critics could argue that the temporary nature of the exemption does not address the ongoing needs of the elderly and may lead to inconsistencies in access to food affordability, particularly if they experience price fluctuations outside the exempted dates. Furthermore, stakeholders may engage in discussions about how such tax policies align with broader social welfare strategies and whether more sustainable measures should be implemented to assist senior citizens.