►
Description
House Finance, Ways & Means Subcommittee House Hearing Room 3
A
A
You,
madam
clerk,
I
would
like
to
call
the
finance
ways
and
means
subcommittee
to
order
for
february
the
9th
2022.
members
are
there
any
personal
orders
before
we
begin
seeing
none.
We
have
five
bills
on
our
calendar
for
today.
So
we're
going
to
jump
right
in
item
number
one
on
our
calendars
house
bill
1405,
that's
15,
1405
by
chairman
hawford.
A
We
have
a
request
to
take
this
bill
off
notice,
so
I
don't
think
he's
well.
He
doesn't
have
to
be
here
so
we're
going
to
go
ahead
and
move
right
on
without
him.
So
since
this
bill
has
been
calendared
three
times,
we
will
need
to
place
it
on
a
special
calendar
to
be
published
with
our
final
calendar
pursuant
to
house
rules.
So
without
objection
house
bill
1405
will
go
on
the
special
calendar
calendar
to
be
published
with
the
final
calendar.
Without
objection.
A
A
C
Committee,
thank
you
for
the
time
this.
This
amendment
adds
the
language,
because
there
was
an
issue
in
alabama
where
they
have
this
same
bill
and
passed
it,
but
there
was
an
issue
on
whether
they
should
charge
tax
on
the
difference
between
what
the
coin
was
actually
worth
intrinsically.
If
it
was
worth
a
dollar,
but
they
sold
it
for
25
did
they
should
they
tax
on
the
the
difference,
and
so
we
changed
this
wording.
So
we
don't
have
that
kind
of
problem.
A
All
right,
thank
you
for
this
description.
Members.
Any
discussion
on
amendment
11904,
seeing
none
we're
now
voting
on
amendment
11904
being
put
onto
house
bill
1874.,
all
those
in
favor
say
aye,
all
those
opposed.
No,
the
ad
habit,
we're
back
on
the
bill
as
amended,
and
with
that
you
are
recognized,
sir.
C
Thank
you.
We've
we've
been
at
this
for
about
seven
years,
trying
to
get
this
passed.
The
physical
note
and,
and
I've
talked
to
krista
and
really
the
physical
note's
only
about
a
hundred
dollars,
but
she
said
we
had
to
put
it
at
what
it
is,
so
I've
waited
for
seven
years
for
it
to
go
down.
C
I
I
just
want
to
tell
you
that
we
are
left
now,
as
one
of
I
think,
eight
states
that
still
have
a
tax
on
gold,
bullion,
rare
coins
and
paper
money,
and
it's
costing
us
tens
of
millions
of
dollars
every
year.
People
who
buy
gold
bullion
in
tennessee
will
not
buy
it
from
a
tennessee
dealer.
They
go
out
of
state,
buy
it,
so
they
don't
pay
tax
on
it.
We
lost
the
paper
money
trade
show
in
memphis
two
years
ago.
C
It
brought
in
2.1
million
dollars
to
memphis
economy
and
they
tried
to
warn
us
for
several
years
that
if
we
did
not
do
away
with
this
tax
on
paper
money,
they
were
moving
and
two
years
ago
they
went
to
kansas
city,
the
the
international
numismatic
show
they
want
to
come
to
nashville
and
have
for
a
long
time
and
will
not
and
so
same
thing
with
other
coin
shows
and
trade
shows
and
expos.
They
won't
come
here
because
there
there
is
a
tax
on
on
coins
and
rare
metal.
C
So
for
the
seventh
time
I
I
know
it's
going
behind
the
budget,
but
I
want
to
put
it
in
your
mind.
So
when
it
comes
time
for
behind
the
budget,
stuff,
you'll
put
me
at
the
front
of
the
line,
and
with
that
in
mind,
I
have
a
gentleman
here,
mr
j.p
cortez.
If
you
would
indulge
me
to
allow
him
to
speak
to
you
as
a
as
a
vendor
in
this
state,
all.
A
Right,
thank
you
chairman,
and
we
do
have
a
request
from
mr
jp
cortez
to
speak,
so
we're
going
to
go
ahead
and
ask
him
to
be
coming
toward
the
podium.
So
without
objection
we're
going
to
go
out
of
session.
We
are
now
out
of
session.
Sir.
Please
step
up
to
the
phone.
You
can
see
it.
You
can
stand
whatever
if
you'll
just
introduce
yourself
and
who
you
are
associated
with.
You
have
three
minutes.
D
Thank
you,
chairman
hicks
members
of
the
finance
ways
and
means
house
subcommittee.
Thank
you
for
the
opportunity
to
testify
before
you
today.
My
name
is
jp
cortes
and
I'm
the
policy
director
for
the
sound
money.
Defense
league.
I
ask
you
to
please
vote
yes
on
house
bill
1874.
when
the
time
comes.
This
is
a
measure
to
remove
sales
tax
on
gold
and
silver
coins
and
bullion.
D
According
to
the
taser
report,
42
states
currently
have
already
done
so
in
whole
or
in
part,
mississippi,
hawaii,
kentucky
and
new
jersey
are
considered
are
expected
to
consider
eliminating
this
tax
right
now,
as
well.
So
of
the
eight
states
remaining
five
are
currently
considering
with
active
legislation
to
remove
this
tax
as
well.
D
So,
under
current
law,
tennessee
citizens
are
disincentivized
from
protecting
their
savings
in
gold
and
silver
because
of
this
unfair
tax,
and
so
the
house
bill
1874
would
remove
the
disincentives
to
allowing
people
to
store
their
gold
in
or
to
store
their
savings,
their
wealth
in
gold
and
silver.
At
a
time
when
inflation,
at
a
time
when
the
consumer
price
index
is
higher
than
we've
seen
in
four
decades,
tax
on
gold
and
silver
essentially
serves
as
a
pro
de
facto
investment
penalty.
Tennessee
doesn't
charge
sales
tax
on
stocks,
bonds,
etfs,
cryptocurrencies
real
estate.
D
D
As
representative
hulsey
mentioned
the
taxing
of
precious
metals,
the
monetary
medals
also
undermines
tennessee
businesses.
People
are
leaving
the
state.
The
state
tennesseans
will
buy
or
store
their
medals
in
other
states.
Alabama
georgia
missouri
north
carolina
virginia.
All
of
these
states
have
already
removed
this
tax
in
tennessee
tennessee
business
dollars,
tennessee
investment
dollars
they're
all
going
there.
D
So
by
voting
yes
on
18
on
house
bill,
1874
you'll
be
following
examples
set
by
42
other
states
across
the
country,
you'll
be
reducing
the
the
tax
burden
on
your
constitu
on
your
tennessee
taxpayers
and
you'll,
be
allowing
this
business
to
thrive
and
allowing
people
to
protect
their
savings,
their
wealth
with
an
inflation
hedge
that
has
served
that
for
millennia.
So
thank
you
for
the
opportunity
to
testify
before
you
today
and
I'm
available
for
any
questions.
If
there
are
any
all
right.
A
E
Thank
you,
and
I
think
this
is
a
good
idea,
quick
question,
so
I
know
when
you
you
don't
pay
taxes
when
you
purchase
a
stock,
but
you
pay
capital
gains
and
then
you
pay
a
percent
annually
on
whatever
the
the
profit
is.
The
growth
of
your
taxes
is
it
is
it?
E
Is
that
considered
in
in
this
as
well?
Would
you
pay
capital
gains
or
no
taxes
whatsoever.
C
A
Seeing
none
as
our
sponsor
has
already
alluded
to,
it
does
have
a
fiscal
note,
and
I
know
you've
been
working
on.
This
seems
like
the
seventh
year
comes
to
mind
that
you've
been
working
on
this
so
and
we
know
you'll
continue
to
do
so.
We
do
thank
you
for
your
hard
work
on
this,
but
there
is
a
fiscal
note
associated
to
house
bill
1874.
So
without
objection.
C
A
A
F
You,
mr
chairman
and
committee,
and
I
I
guess
we're
still
in
that
biblical
stage,
because
senate
joint
resolution
55
is
requesting
a
constitutional
amendment.
Change
that
would
go
on
the
ballot.
This
year
proposes
amendment
to
remove
article
9,
section
1
of
the
constitution
of
tennessee,
which
provides
that
no
minister
of
the
gospel
or
priest
of
any
denomination
whatsoever
shall
be
eligible
to
a
seat
in
either
house
of
the
legislature.
F
G
Representative
hall,
thank
you,
mr
chairman
and
representative
brady.
Thank
you
for
bringing
this
for
a
while
there
I'm.
I
was
attracting
ministers
to
run
against
me
two
three
four
years
in
a
row,
so
I
in
the
the
rulings
of
courts,
already
have
said
that
these
individuals
in
this
profession
can
and
should
be
allowed
to
to
run
so
we're
just
essentially
looking
to
constitutionalize
what
has
most
recently
become
practice
within
the
courts.
Right.
A
H
You,
chairman,
representative
brady,
the
question
my
good
friend
from
overton
county
wanted
to
know
is:
if
a
bivocational
pastor
would
this
would
apply
to
them
or
not,
as
he
wouldn't
know
he
is,
is
that
by
vocation
has
no
bearing
on
it
whatsoever.
A
All
right
further
discussion,
seeing
representative
reedy,
we
will
be
having
a
constitutional
amendment
calendar
at
a
later
date,
we'll
make
sure
you
get
notified
of
that.
So
without
objection,
house
joint
resolution
55
moves
to
the
constitutional
amendment
calendar
without
objection
so
moved.
Thank
you.
Thank
you.
That
brings
us
to
item
number
four
is
house
bill
1720,
also
by
representative
reedy,
and
it's
my
understanding.
You
have
requested
to
roll
that
one
week.
A
A
H
You
chairman
and
members
this
bill
would
allow
a
national
soccer
club
to
operate
in
the
same
fashion.
The
other
professional
sports
teams
do,
as
it
relates
to
sale
of
alcohol.
Happy
to
answer
any
questions
you
might
have
all.