Bill > HB1133

This bill amends Tennessee tax law to provide pollution control tax credits for nuclear energy production facilities and clarify tax treatment for certain uranium-related equipment and processes. Specifically, the bill adds nuclear energy production facilities to the list of entities eligible for pollution control tax credits, and introduces a detailed definition for machinery and equipment related to uranium enrichment, deconversion, and conversion processes. The new tax provision covers a wide range of equipment, including machinery for enriching uranium using technologies like gaseous diffusion and centrifuge, deconverting uranium from hexafluoride to oxide or metallic forms, and converting uranium from oxide to hexafluoride form. The bill specifies that these tax provisions apply regardless of who owns the uranium materials or how the enrichment/conversion services are contracted (such as cost-plus, toll, or fee basis). The tax changes will take effect on July 1, 2025, and are intended to support and incentivize nuclear energy and uranium processing industries in Tennessee by providing tax benefits for specialized equipment and infrastructure.

Budget and Finance

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1133&ga=114