Construction Section

This section was formed to serve the needs of Tennessee attorneys practicing in the area of construction law. Its purpose is to further the knowledge of its members and to act as an advocate for those attorneys in the legislature and the courts.

Chair
Attorney at Law
112 Glenleigh Court Ste 1
Knoxville, TN 37934
(865)777-2700
Vice-Chair
Glankler Brown, PLLC
6000 Poplar Avenue, Suite 400
Memphis, TN 38119
(901)525-1322
Immediate Past Chair
Hagan Law Group, PLLC
495 N Walnut Street
Murfreesboro, TN 37130
(615)546-4070
Staff Coordinator
Tennessee Bar Association
221 4th Avenue N. Suite 400
Nashville, TN 37219
(615)383-7421

IKEA in Memphis will Opt Out of PILOT Tax Breaks

Swedish furniture retailer IKEA will opt out of its 11-year payment-in-lieu-of-taxes (PILOT) break because the company failed to meet program requirements, the Daily Memphian reports. IKEA initially agreed to hire 175 employees with an average wage of $41, 011, however, currently employs 147 people with an average wage of $36,944. The company may get another year of incentives if it follows through on environmental projects such as water conservation efforts and installing a solar powered roof.

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U.S. Department of the Treasury Releases Updated Rules Regarding Opportunity Zones

The U.S. Department of the Treasury on Wednesday released its second set of proposed regulations regarding the Opportunity Zones tax incentive, The New York Times reports. Introduced in the 2017 Tax Cuts and Jobs Act, the initiative is intended to encourage development in economically distressed communities by allowing investors to defer, reduce or eliminate taxes on some capital gains when the investments are held for at least 10 years. Critics argue that the incentives, as introduced, would benefit real estate developers, not small businesses, and speed up the displacement of low-income residents in gentrifying areas. The new rules seek to quell some of these concerns, also allowing long-vacant properties to immediately qualify for the tax breaks and provides investors incentives even if the business focuses on exported goods or services to markets outside of the zone, pending the money is reinvested in another qualifying business or asset.

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