DAVIS ANNOUNCES INCREASE IN AML FUND, SALES TAX DEDUCTION EXTENDED
Davis secures increase in Tennessee's share of AML fund December 8, 2006

WASHINGTON, D.C. -- U.S. Rep. Lincoln Davis today announced the House passed a House-Senate Conference Committee package of various legislative items that would in part increase Tennessee's abandoned mine land fund share and let Tennesseans deduct sales taxes on federal returns for two more years.

“Much work and negotiation was done to complete this compromise legislation,” said Davis. “The key provisions contained within the bill will remove many public hazards and put money back into the pockets of Tennessee families.”

Davis initiated a campaign in 2003 to increase Tennessee's share of the abandoned mine land fund. Currently, with the state receiving $1 million to $1.5 million a year, it would take a quarter century to reclaim our high priority abandoned mines. There are over two hundred eighty identified abandoned mine problem areas in Tennessee. Many of these contaminated areas contain numerous abandoned mines. It has been estimated that forty two thousand Tennesseans live within a mile of an abandoned mine site. A majority of the high priority sites are scattered throughout twenty counties, with fourteen of the twenty in the 4th Congressional District.

“The AML fund has enabled Tennessee to correct a wide array of public health and safety hazards,” said Davis. “I initiated a campaign in the U.S. House, with the support of my colleagues in our congressional delegation, to make sure Tennessee receives the appropriate amount of money needed to properly address these hazards in a more timely fashion.”

The two-year sales tax deduction extension, worth nearly $400 a year in tax relief, allows residents in Tennessee and six other states to deduct state sales taxes from federal tax returns.

Davis said of the sales tax deduction, "Tennessee taxpayers will be able to keep their hard earned money and will be saving hundreds of dollars a year. I hope we can make this provision permanent."

Final action on the compromise awaits Senate approval and President Bush’s signature.

equirements, the bill's offsets are six modest reductions in various subsidies to lenders and guaranty agencies.