TN SB 32
died on adjournmentTaxes - 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.
Tennessee · 114S1 · upper
Quick answers
Did TN SB 32 pass?
No. TN SB 32 died when the 114S1 session adjourned without final action on it. Bills that die this way are sometimes reintroduced in a later session. Latest recorded action (2025-04-22): Assigned to General Subcommittee of Senate Finance, Ways & Means Committee
What is TN SB 32 about?
TN SB 32 is a bill in the 114S1 titled “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.”.
Who sponsors TN SB 32?
Bailey is the primary sponsor of TN SB 32.
- Introduced
- 2025-01-14
- Latest action
- 2025-04-22 — Assigned to General Subcommittee of Senate Finance, Ways & Means Committee
- Bill type
- bill
- Last updated
- —
Subjects
Sponsors
- Baileyprimary
Committees
Not provided by source.
Action timeline
2025-01-06
Filed for introduction
filing
2025-01-14
Introduced, Passed on First Consideration
introduction
2025-01-15
Passed on Second Consideration, refer to Senate Finance, Ways, and Means Committee
referral-committee
2025-02-18
Refer to Senate F,W&M Revenue Subcommittee
2025-02-25
Placed on Senate FW&M Revenue Subcommittee calendar for 3/4/2025
2025-03-04
Placed on Senate Finance, Ways, and Means Committee calendar for 3/11/2025
2025-03-04
Refer to Senate Finance, Ways & Means Committee w/ recommendation, as amended
committee-passage-favorable
2025-03-11
Placed on Senate Finance, Ways, and Means Committee calendar for 3/18/2025
2025-03-11
Action deferred in Senate Finance, Ways, and Means Committee to 3/18/2025
2025-03-18
Action deferred in Senate Finance, Ways, and Means Committee to 4/1/2025
2025-03-25
Action deferred in Senate Finance, Ways & Means Committee / Behind the Budget
2025-04-14
Placed on Senate Finance, Ways, and Means Committee calendar for 4/15/2025
2025-04-14
Rule #83(8) Suspended, to be heard in Senate Finance, Ways & Means Committee on 4/15/2025
2025-04-17
Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2025
2025-04-22
Assigned to General Subcommittee of Senate Finance, Ways & Means Committee
referral-committee
Versions
Documents
- application/pdf(no extracted text yet)
- (no extracted text yet)
Votes
Not provided by source.
Related bills
- Companion bill: HB 477
Official source
Attribution
Data from openstates_bulk_csv, retrieved 2026-07-24T05:32:51.339172Z
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