Taxes, Franchise - As enacted, authorizes the commissioner of revenue to issue refunds under certain conditions to taxpayers who properly file a claim for refund for franchise taxes paid; makes related changes. - Amends TCA Title 67, Chapter 1 and Title 67, Chapter 4.

This bill authorizes the Tennessee Commissioner of Revenue to issue refunds to taxpayers who previously paid franchise taxes based on a minimum tax base that is no longer in effect. To receive a refund, a taxpayer must file a specific claim within three years of the tax payment, and any refund issued will first be used to offset any outstanding tax debts owed by the taxpayer. The law also establishes a designated fund to pay these refunds and requires the department to report annually on the number of claims filed and the total amount paid. Additionally, the bill sets specific rules for interest and attorney fees, allowing interest to accrue on approved refunds but prohibiting the award of attorney fees for claims related to the constitutionality of the franchise tax.