Tennessee bills · 114th Regular Session (2025-2026)
Tennessee SB 32
Taxes - As introduced, allows a taxpayer to annually elect to take a bonus depreciation deduction of 40 percent of the cost of assets purchased on or after January 1, 2026, during the tax year in which the assets were purchased when calculating net earnings or net losses for excise tax purposes; allows the taxpayer to take the federal depreciation percentage if it exceeds 40 percent. - Amends TCA Title 67, Chapter 4, Part 20.
- Introduced
- In committee
- Passed Senate
- Passed House
- To Governor
- Became law
Sponsors
- Bailey (Republican)
Summary
No official summary is available for this bill.
Latest action(Apr 22, 2025): Assigned to General Subcommittee of Senate Finance, Ways & Means Committee
Text versions
Roll-call votes
No recorded votes on this bill.
Actions
- Apr 22, 2025 · House
Assigned to General Subcommittee of Senate Finance, Ways & Means Committee - Apr 17, 2025 · House
Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2025 - Apr 14, 2025 · House
Rule #83(8) Suspended, to be heard in Senate Finance, Ways & Means Committee on 4/15/2025 - Apr 14, 2025 · House
Placed on Senate Finance, Ways, and Means Committee calendar for 4/15/2025 - Mar 25, 2025 · House
Action deferred in Senate Finance, Ways & Means Committee / Behind the Budget - Mar 18, 2025 · House
Action deferred in Senate Finance, Ways, and Means Committee to 4/1/2025 - Mar 11, 2025 · House
Action deferred in Senate Finance, Ways, and Means Committee to 3/18/2025 - Mar 11, 2025 · House
Placed on Senate Finance, Ways, and Means Committee calendar for 3/18/2025 - Mar 4, 2025 · House
Refer to Senate Finance, Ways & Means Committee w/ recommendation, as amended - Mar 4, 2025 · House
Placed on Senate Finance, Ways, and Means Committee calendar for 3/11/2025 - Feb 25, 2025 · House
Placed on Senate FW&M Revenue Subcommittee calendar for 3/4/2025 - Feb 18, 2025 · House
Refer to Senate F,W&M Revenue Subcommittee - Jan 15, 2025 · Senate
Passed on Second Consideration, refer to Senate Finance, Ways, and Means Committee - Jan 14, 2025 · House
Introduced, Passed on First Consideration - Jan 6, 2025 · House
Filed for introduction