State Tax Day - Current, S.23, Tennessee—Multiple Taxes: Community Development Credit for Financial Institutions Modified, (Jun 10, 2026)
Tennessee enacted a law changing the base for the annual community investment franchise and excise tax credit allowed to financial institutions from certain percentages of the unpaid principal balance of certain qualified loans made to a certified community development financial institution to certain percentages of the month-end average unpaid principal balance of such loans. The change applies to tax years beginning on or after January 1, 2027.
Ch. 1009 (H.B. 2156), Laws 2026, effective January 1, 2027