NASHVILLE, Tenn. (WKRN) — Tennessee is set to cut its franchise tax on property businesses owned in this state. The only issue is the House and Senate can’t agree on how to get there.

“I would say that we’re at an impasse as it relates to being able to find a solution because I really feel like the House’s version is the one we’re going to stick with,” Rep. Ryan Williams (R-Cookeville) said in a Conference Committee.

The Senate wants to cut the tax and refund businesses back three years who have paid it in response to alleged legal issues. The House wants to only refund one year, while also making it so the businesses who accept the refund are public record.

Read the latest from the TN State Capitol Newsroom

“I’m also concerned that if we do the one-year lookback that, should we then actually end up in litigation, that the court would look at that as inadequate, as an inadequate remedy for the problem,” Sen. Bo Watson (R-Hixson) said.

Gov. Bill Lee (R-Tennessee) – who’s pushed this legislation from the start – has motioned that he’s opposed to any transparency piece.

“It wasn’t in my proposal because I think it’s unprecedented to provide private information to the public,” Lee told reporters Monday.

Both he and Senate leaders say they’re still pushing for the bill to get through.

“I think I speak for the Senate side of this Conference Committee that we are very committed and very much want to get this issue resolved and put to bed before we adjourn or sine die,” Senate Majority Leader Jack Johnson (R-Franklin) said.

⏩ Read today’s top stories on wkrn.com

But the House is far less optimistic, and with only days remaining in session, time is running out.

“My hopes are not high at this juncture,” House Majority Leader William Lamberth (R-Portland) said.

For the latest news, weather, sports, and streaming video, head to WKRN News 2.