AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, relative to tax relief.
Impact
One of the primary impacts of SB1904 is the introduction of a credit against business, excise, and franchise taxes, which is limited to fifty percent of the total tax liability of the provider. Furthermore, any unused tax credits can be carried forward for up to five years. This provision allows healthcare providers to manage their financial liabilities more effectively over time, providing them with crucial financial support. By enabling providers to claim tax credits or refunds for unreimbursed TennCare costs, the bill aims to bolster the financial viability of these providers, which could ultimately enhance the healthcare services available to low-income populations.
Summary
Senate Bill 1904 aims to amend Tennessee Code Annotated, specifically Title 67, Chapter 4, in regards to tax relief for eligible healthcare providers. This bill introduces a new part that outlines tax credits for unreimbursed costs incurred by healthcare providers who participate in the TennCare program. This program serves as the state's Medicaid program and the bill is designed to provide certain tax incentives to healthcare providers who may experience financial challenges due to unreimbursed costs when treating TennCare recipients. The legislation emphasizes the importance of maintaining the accessibility of healthcare services for these individuals.
Contention
There are potential points of contention regarding SB1904, particularly focused on the limits and conditions placed upon the tax credits. Concerns may be raised by legislators regarding the sustainability of such tax expenditures and their long-term implications on state revenue. Additionally, the requirement that proceeds from any elected refund be used solely for charitable contributions may also generate debate about the appropriateness and effectiveness of such a condition. Stakeholders are likely to debate whether this aligns with the overall goal of improving healthcare access or if it causes unintended consequences for healthcare providers who may prefer retaining funds for direct operational costs.
Creates the healthcare worker platform act that requires platforms offering healthcare shifts to register with the Rhode Island department of health while exempting them from being classified as nursing service agencies.
To Prohibit Healthcare Insurers From Exercising Recoupment For Payment Of Healthcare Services More Than One Year After The Payment For Healthcare Services Was Made.
Requires insurers to pay electronic claims for healthcare coverage within 14 calendar days of receipt. Permits healthcare providers to dispute claim denials within 60 days and empowers the secretary of EOHHS to establish penalties for violations.