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Thu May 17, 2012
Haslam Signs Tennessee $31 Billion Spending Plan
Tennessee Governor Bill Haslam has signed the state's more than $31 billion dollar annual spending plan. The budget includes a reduced sales tax on groceries, an increase in the exemption for the inheritance tax, and enhanced penalties for gang and gun crimes.
The House voted to adopt the budget proposal agreed to in a rare conference committee following disagreements over local projects. The Senate passed it shortly afterward with little debate. The governor also signed a bill to allow the state to exceed a constitutional spending cap.