Tennessee House Bill HB2633

Tennessee 2023-2024 Regular Session

• Introduced: 1/31/24
• Refer: 3/5/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 4; Title 43; Title 48 and Title 61, relative to business entities.

Impact

The modifications introduced by HB2633 could impact the cost of doing business within the state. By raising the registration and filing fees from lower amounts to a new standard of approximately five hundred dollars, the bill potentially places a higher financial burden on startups and small businesses. The requirement to pay these increased fees may deter some from forming new business entities or could lead them to seek alternatives, thereby affecting the overall business landscape in Tennessee.

Summary

House Bill 2633 aims to amend specific sections of the Tennessee Code Annotated concerning business entities. The bill modifies the monetary amounts associated with various fees that are required under state law for business registrations and filings. Notably, the bill increases the fees for several types of business entities, making significant adjustments across multiple sections including Title 4, Title 43, Title 48, and Title 61. These changes highlight a move towards updating financial requirements within the regulatory framework governing business entities in Tennessee.

Contention

While the specific discussions surrounding HB2633 are not detailed in the available documents, typically, such amendments may prompt contention among lawmakers and stakeholders. Opponents may argue that raising these fees could disproportionately impact small businesses and entrepreneurs who are already at a disadvantage. Advocates may support the bill as a necessary adjustment to align fees with inflation and to ensure that administrative costs associated with maintaining business records are adequately covered.