business

Fitzgerald Glider blames EPA rules — which Diane Black sought to block — as it cuts production, lays off employees

Fitzgerald Glider Kits, the Crossville-based company that stirred controversy earlier this year over dealings with U.S. Rep. Diane Black involving EPA rules for the old diesel engines it uses in producing trucks, has slashed its production and is laying off many employees, reports the Upper Cumberland Business Journal. The company blames EPA rules, which Black had pushed to repeal.

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Folks reported ‘flocking’ to first TN hemp dispensary — offering ‘pain relief’ through ‘mother nature’

People are “flocking” to the first hemp dispensary in Tennessee, which recently opened in Murfreesboro, says WTVF TV in a report that seems almost an advertisement for cannabidiol oil (CBD) sales – legalized by the state legislature two years ago with little fanfare and previously peddled on a mostly incidental basis within the state. Such sales led to a big bust in Rutherford County earlier this year, but all charges were dismissed after law enforcement officials realized candy contained CBD derived from hemp, not its illegal cousin plant marijuana, is legal in Tennessee and TBI labs confirmed that was the stuff being sold.

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NFIB endorses reelection of 18 incumbent Republican state legislators and two Democrats (including ‘black Republican’ Tate)

The National Federation of Independent Business’ Tennessee political action committee has endorsed 20 incumbent state legislators for reelection – 18 Republicans and two Democrats. Sen. Reginal Tate and Rep. John DeBerry, both of Memphis. NFIB typically only endorses incumbents.

The Nashville Post notes that Tate’s Democratic primary opponent, Katrina Robinson, was recently endorsed by Democratic state Sens. Lee Harris and Sara Kyle, also representing Memphis. And that Tate and Senate Republican Caucus Chairman Bill Ketron were recently recorded at a legislative committee meeting joking about that unusual move and Tate’s status as “a black Republican.”

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Former mayoral candidate and business partner buy Nashville Scene and Nashville Post

The company owned by Nashville entrepreneur and former mayoral candidate Bill Freeman and his longtime business partner Jimmy Webb has acquired the Nashville Scene, the Nashville Post and Nfocus from holding company SouthComm, according to an article in the Scene.

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Haslam signs compromise short-term rental bill

Legislation setting statewide rules for short-term rental of residential property has been signed into law by Gov. Bill Haslam without public comment. Similar bills have been the subject over lobbying wars for years over how much regulatory authority should remain with local government and the final version passed by the legislature was something of a compromise, worked out in a House-Senate conference committee.

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State paying $17.5M to New York firm for moving to Nashville — along with targeted tax break

The state Department of Economic and Community Development has agreed to give $17.5 million to AllianceBernstein for moving its headquarters from Manhattan to Nashville, reports the Nashville Business Journal.   A bill approved by the legislature this year also gives the company a tax break that served to “sweeten” state support for the move, says the state’s ECD commissioner.

The Beacon Center of Tenessee, which has been crusading against “corporate welfare,” had urged that AllianceBernstein get nothing in the way of taxpayer-funded incentives. The global financal firm announced with Gov. Bill Haslam last month that it will bring 1,050 jobs to the state’s capitol city, investing about $70 million.

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Approved bill lets TN corporations avoid increased taxation

A bill that largely spares Tennessee corporations from an increase in state business taxes otherwise triggered by President Donald Trump’s 2017 federal tax overhaul is on its way to Gov. Bill Haslam for his signature, reports the Times Free Press.

According to a legislative fiscal note, enactment of the bill (SB2119, as amended) means the state will be giving up potential $112 million in foregone state corporate excise tax revenue over a period of several years beginning in fiscal year 2020-2021. And businesses, of course, will be spared paying that much in added taxes.

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Legislators authorize utilities funding chambers of commerce (updated and corrected)

Legislation authorizing natural gas utility companies to provide funding to local chambers of commerce was approved by the Senate on Wednesday. The House initially spurned the bill, but then reconsidered and approved it in the waning moments of the 2018 session.

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With Haslam signature, legal Sunday booze sales can begin this weekend

Gov. Bill  Haslam today signed into law legislation that authorizes Sunday sales of liquor and wine, according to his communications department. The bill (HB1540) says that, insofar as liquor stores go, it takes effect “upon becoming law” – meaning when governor signs it.

Thus, Tennessee liquor stores could legally be open on this Sunday if the operators wish – or have time to prepare. But the bill also declares the effective date for grocery stores and supermarkets that sell wine only is Jan. 1, 2019. The first Sunday after that date is Jan. 6, 2019.

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Legislators vote for state takeover of coal mining regulation from feds

Following a four-year push by Tennessee’s coal mining industry, both the House and Senate have now approved legislation to have the state Department of Environment and Conservation assume oversight of the industry from the federal Office of Surface Mining.

The House approved the bill (SB686) on Monday on a vote of 69-20 while the Senate gave assent 25-4 back on March 12. The House added an amendment that will send the measure back to the Senate for anticipated concurrence.

Tennessee surrendered oversight of coal mining – called “primacy” in the industry — to the federal government 34 years ago. Sponsors Sen. Ken Yager (R-Kingston) and Rep. Dennis Powers (R-Jacksboro) say Tennessee is now the only coal-mining state in the nation that doesn’t operate its own program of issuing permits and enforcing regulations.

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