Tag Archives: april

State Revenue Take Up Again in April

News release from Department of Finance and Administration:
NASHVILLE, Tenn. – Tennessee revenue collections continued their positive growth trend in April with a net growth of 9.31% over April collections one year ago. Finance and Administration Commissioner Mark Emkes reported today that overall April revenues were $1.5 billion or $160.9 million more than the state budgeted.
Total collections in April marked the ninth consecutive positive growth month this fiscal year. Corporate Franchise and Excise taxes and collections from the Hall Income Tax contributed substantially to the large over collection in April. Sales tax collections, however, recorded the second negative growth month this year.
“We expect one very large Franchise and Excise tax month remaining in this fiscal year, but with sales tax collections performing below budgeted expectations, we need to closely watch our revenue and expenditure patterns,” Emkes said. “National economists are warning states not to get overly confident during peaks of the slow recovery, so we are going to continue conservative budgeting to maintain stable financial conditions.”

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Bills Signed by the Governor, 4/23/13

A list of bills recently signed by Gov. Bill Haslam, as provided by his communications office:
April 19
HB 80
This bill decreases the per diem that a member of the general assembly whose principal place of residence is 50 miles or less from the capitol may receive and increases the number of days that such members may receive a mileage allowance.
(Passed House 72-15; Passed Senate 28-2)
HB 128
This bill requires, rather than permits as it stands under current law, that restitution to the victim be paid by the defendant for the offenses of patronizing prostitution, trafficking for commercial sex acts, solicitation of a minor for sexual purposes, and enlisting or paying a minor to engage in child pornography.
(Passed House 97-0; Passed Senate 32-0)

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Bills Signed by the Governor, 3/03/13

Here’s the latest list of bills signed into law by Gov. Bill Haslam, provided by his office:
March 26
SB 59
This bill authorizes and encourages public higher education institutions to offer coursework on neurological or brain science research as part of teacher training programs.
(Passed House 95-0; Passed Senate 33-0)
SB 65
This bill authorizes tractor vehicle, freight motor vehicle, truck-tractor, trailer and semitrailer operators to deduct the weight of their idle-reduction technology or emissions-reduction technology, not to exceed 550 pounds, from the total weight of the vehicle for purposes of determining whether the vehicle exceeds the weight limit for operation on the roads.
(Passed House 95-0; Passed Senate 31-0)

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April Unemployment Rate 7.8 Percent in TN

NASHVILLE, Tenn. (AP) — Tennessee’s unemployment dropped slightly in April, marking the ninth straight month of decreases in the state’s unemployment rate.
The 7.8 percent unemployment rate is down from 7.9 percent in March and the lowest it’s been since November 2008.
Labor and Workforce Development Commissioner Karla Davis said in a release that the decrease in the jobless rate is largely caused by fewer people seeking work.
The national unemployment rate was 8.1 percent in April, also 0.1 percentage point lower than the previous month.
State manufacturing jobs saw the biggest increase compared with last month, at a growth rate of 1.8 percent. Next were jobs in trade, transportation and utilities at 1.6 percent and positions in the leisure and hospitality sector at 1.5 percent.

State’s April Revenue Up 9.67 Percent Over Last Year

News release from Department of Finance and Administration:
NASHVILLE – Tennessee revenue collections continued an upward growth trend in April, with a net positive growth of 9.67% over April collections one year ago. Finance and Administration Commissioner Mark Emkes reported today that overall April revenues were $1,386.4 million or $82.8 million more than the state budgeted.
“Sales tax collections recorded the 25th consecutive month of positive growth dating back to April of 2010,” Emkes said. “In addition, corporate Franchise and Excise tax collections continue to be very encouraging, but the Hall Income Tax recorded a negative growth over last April and fell considerably short of the budgeted estimate.
“Uncertainty surrounding the outcome of Supreme Court review of the federal healthcare reform act, resolution of the federal budget and European financial crises, along with the potential for rising inflation, the volatility of gas prices and corporate tax collections, altogether requires us to be prudent for the remainder of this year.”

Insurance Paid $2B on TN Claims from April Storms

The insurance industry has paid $2 billion on 260,000 claims filed by Tennesseans as a result of storms between April 22 and April 28, reports the Cleveland Daily Banner..
Gary Kearney, assistant vice president of Property Claims Service, a New Jersey company that identifies catastrophes for the insurance industry, said only the state of Alabama suffered a greater loss, at around $3 billion.
Localized figures are not available except through individual insurance companies or if the Tennessee Department of Commerce and Insurance issues a data call, which it is considering and moving toward, according to Christopher Garrett, director of communications for the state agency.