Sen. Lowe Finney Sales Tax Bill

The entire presser:

NASHVILLE – Sen. Lowe Finney (D-Jackson) co-sponsored an amendment Tuesday to allow flood victims to be exempt from sales tax for purchases of major appliances and home building supplies.

“Many West Tennessee flood victims lost everything in their homes, down to their cabinets and refrigerator,” Finney said. “Giving them a sales tax break could potentially save them thousands of dollars as they rebuild their lives.”

The amendment to Senate Bill 3901 would exempt anyone receiving federal disaster assistance as a result of the early May flooding from paying state and local sales tax on essential home items. Such items would include major home appliances up to $3,200 each and building materials up to $500 each.

Carroll, Gibson and Madison Counties have all been declared federal disaster relief areas, making residents eligible for federal aid.

“I have seen my neighbors in Jackson work together to help each other, and I want to do my part,” Finney said. “The state sales tax break is one more way lawmakers can help Tennesseans in a time of great need.”

If approved, the bipartisan measure would allow the exemption to run through Sept. 30. The amendment is not expected to severely impact revenues, as the state would not have counted on a drastic increase in such purchases had the floods not occurred.

The measure awaits approval in the Senate and House.

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