Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
State: | Tennessee |
Effected Jurisdiction: | Tennessee |
Jurisdiction type: | State |
Fiscal year ending In: | 2019 |
Program name: | Small and Rural Development Opportunities Credit Program |
Program purpose: | Rural development |
Statutory authority: | TCA 67-4-2109 |
Abating jurisdiction(s): | State of Tennessee |
Applicable taxes: | Franchise Tax; Excise Tax |
Method of abatement: | Tax Credit |
Provisions for recapture: | Recapture provisions provide that, if at the close of the tenth year of the period during which the credit is allowed, the taxpayer or its assignee has received repayment, or retains any right to repayment, the department is entitled to recapture the credit allowed by increasing the franchise or excise tax liability given to the financial institution. |
Gross revenue loss: | $1,416,000 |
Reimbursement / offset: | $0 |
Net revenue loss: | $1,416,000 |
Type of loss: | Active |
Additional notes on dislosure: | (none) |
Document source: | https://www.tn.gov/finance/rd-doa/fa-accfin-ar.html |