SB0381 (Ketron) Remove tax exemption for certain firearm mfg equipment

[GKar]

Kinda fuzzy on this one:

 

SECTION 1. Tennessee Code Annotated, Section 67-6-102(44), is amended by deleting subdivision (M) in its entirety.

 

SECTION 2. This act shall take effect upon becoming a law, the public welfare requiring it.

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Makes a change to the tax code, specifically deleting the definition given in subsection (m) below:

 

(M) "Industrial machinery" also includes machinery necessary to and primarily used for the manufacture of firearms equipped with integral devices which permit a user to program the firearm to operate only for specified persons designated by the user through computerized locking devices or other means integral to and permanently part of the firearm when utilized by a person whose principal business is fabricating or processing tangible personal property for resale;

 

If I interpret this correctly, there is now a tax exemption available for a firearms manufacturer utilizing the type of industrial machinery describe in (M) above: this bill would delete that tax exemption.  I suppose that would serve to de-incentivize the introduction of that technology...but I am assuming that the tax exemption is only available to those firearms manufacturers where the equipment is located in TN, and thus they would be the only ones "deincentivized".

 

Would love to know why this one came up now...

[Worriedman]

OK Search foo is weak today, but, LexisNexis appears to have changed a bit in the last few days (either that or my computer has been hacked) all I get now are the text titles, e.g. Offenses Against Public Health, Safety and Welfare, no chapter numbers...

[JayC]

This is a pro-2nd amendment bill....  not sure why the tax break was there in the first place, but no need to keep it.