Norris Legislation Providing Hall Income Tax Relief For Senior Citizens Passes Tax Subcommittee

Wednesday, March 6, 2013


More senior citizens would qualify for Hall income tax relief under legislation sponsored by Senate Majority Leader Mark Norris (R-Collierville) that was approved by the Senate Finance Committee’s Tax Subcommittee on Wednesday. The bill is included in Governor Bill Haslam’s legislative package.

“This legislation allows more seniors to qualify for Hall tax relief,” said Leader Norris, who sponsored the constitutional amendment to enact property tax freezes for senior citizens by Tennessee municipalities.  “It dovetails very well with our property tax relief amendment for seniors and helps those who have saved for their retirement.”

The Hall tax is imposed on income derived from interest on bonds, notes and stock dividends.   Since enactment of the Hall tax in 1929, the use of investment savings has grown as a primary source of retirement income. Senate Bill 198 raises the Hall income tax exemption level for citizens age 65 and older from $26,200 to $33,000 for single filers and from $37,000 to $59,000 for those filing jointly. 

“Senior citizens who are on fixed incomes are hit hardest by the Hall tax,” said Senator Norris.  “The increase in the income exemption will also make the state more competitive which is good for our economy.”

The state budget legislation which Norris is sponsoring for Governor Haslam provides a total of $23.1 million which will go back to taxpayers through a combination of tax relief proposals. The tax relief measures include reducing the state portion of the sales tax on grocery food from 5.25 percent to 5.0 percent and raising the inheritance tax exemption level from $1.25 million to $2 million. The budget proposal also provides tax relief for low income seniors, veterans and the disabled by fully funding the growth of the property tax freeze program, which Norris sponsored that was enacted in 2007. 

 



BlueCross Names Medalie Director Of Major Account Management

BlueCross BlueShield of Tennessee has selected Jonathan Medalie as director of major account management.  In this role, Mr. Medalie will oversee major and corporate account management operations and develop and maintain regional broker relationships.  Mr. Medalie most recently served with BlueCross of Idaho, where he was director of sales and account management. ... (click for more)

TVA To Hold Public Meeting In Nashville On Draft Integrated Resource Plan

The Tennessee Valley Authority will host a public meeting in Nashville on Tuesday about the newly released draft of its 2015 Integrated Resource Plan, a guide to TVA’s energy planning decisions for the next 20 years. The meeting, the sixth of seven TVA will offer around the Valley, will be held at the Loew’s Vanderbilt Hotel, Kirkland/Calhoun Room, 2100 West End Ave.  The ... (click for more)

Prominent Business, Civic Leader, And Philanthropist Scotty Probasco Dies At 86

Prominent Chattanooga business, civic leader and philanthropist Scotty Probasco has died at the age of 86. Scotty, as he was affectionately greeted by most of Chattanooga, was known for his modesty, generosity, dependability, and unswerving loyalty. “Great work” was always on the tip of his tongue – a manifestation of his joyous humility. He was a man of high ideals, of kind ... (click for more)

Chemical Odor In Lookout Valley Traced To Chattanooga Tank Wash

Chattanooga firefighters in Lookout Valley were sent out Friday night to investigate reports of a strange odor in the area. The firefighters searched the area, but never found the source of the odor.  John Schultz, an investigator with the Air Pollution Control Bureau, was also out Friday night and eventually tracked the source of the odor to a business, the Chattanooga ... (click for more)

Proud Of Hometown Boy Turned Global Leader, Bob Corker

Time Magazine has it right.  Not only is Chattanooga’s own U.S. Senator Bob Corker one of the “100 Most Influential People in the World,” but he is probably now the most prominent leader in the history of our city.   At a time of extreme frustration with Washington and Congress in general, Bob continues to rise above the division and rancor to build consensus and solve ... (click for more)

Roy Exum: Great Work, Ol’ Pro!

Years ago I was lucky enough to be the seatmate of Scotty Probasco on an airplane bound for somewhere and he taught me a word that has helped me be a much better person than I ever thought I could. We were already swell friends, since he’d watched me grow up at First Presbyterian Church every Sunday with his kids, and he liked some of the stuff I tried to write back then. So ... (click for more)