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: | 2020 |
| Program name: | Development Opportunity Program |
| Program purpose: | Brownfield rehabilitation |
| Statutory authority: | Tennessee Code Annotated 67-4-2009 and Tennessee Code Annotated 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 for the small and rural development program 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: | $3,200,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $3,200,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://www.tn.gov/finance/rd-doa/fa-accfin-ar.html |
