Tennessee 114th General Assembly Status: Passed Senate 1 R cosponsors

SB 0032 — AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, Part 20, relative to the deduction for bonus depreciation for excise tax purposes.

Last action — Assigned to General Subcommittee of Senate Finance, Ways & Means Committee

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has passed the Senate. Introduced January 06, 2025. It now moves to the second chamber.

Next likely step: consideration and a floor vote in the House.

Odds of enactment

Moderate chance

Based on the sponsor, cosponsors, and committee posture, this bill has a moderate chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 28% · moderate confidence

  • Passed Senate

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (1 R).

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

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.

Bill Text

Action History

  1. Filed for introduction

  2. Intro., P1C.

  3. P2C, ref. to Finance, Ways, and Means Committee

  4. Assigned to s/c Finance, Ways, and Means Subcommittee

  5. Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/12/2025

  6. Action Def. in s/c Finance, Ways, and Means Subcommittee to 3/19/2025

  7. Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/19/2025

  8. Placed behind the budget

  9. Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025

  10. Filed for introduction

  11. Introduced, Passed on First Consideration

  12. Passed on Second Consideration, refer to Senate Finance, Ways, and Means Committee

  13. Refer to Senate F,W&M Revenue Subcommittee

  14. Placed on Senate FW&M Revenue Subcommittee calendar for 3/4/2025

  15. Refer to Senate Finance, Ways & Means Committee w/ recommendation, as amended

  16. Placed on Senate Finance, Ways, and Means Committee calendar for 3/11/2025

  17. Action deferred in Senate Finance, Ways, and Means Committee to 3/18/2025

  18. Placed on Senate Finance, Ways, and Means Committee calendar for 3/18/2025

  19. Action deferred in Senate Finance, Ways, and Means Committee to 4/1/2025

  20. Action deferred in Senate Finance, Ways & Means Committee / Behind the Budget

  21. Rule #83(8) Suspended, to be heard in Senate Finance, Ways & Means Committee on 4/15/2025

  22. Placed on Senate Finance, Ways, and Means Committee calendar for 4/15/2025

  23. Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2025

  24. Assigned to General Subcommittee of Senate Finance, Ways & Means Committee

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 132 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (132)

132 members have not signed on to this bill.

Show all 132 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 0032 do?
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 SB 0032?
SB 0032 is sponsored by Bailey, Paul (Republican).
What is the current status of SB 0032?
This bill has passed the Senate. Introduced January 06, 2025. It now moves to the second chamber.
Where can I track SB 0032?
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Last checked for changes 3 months ago · updated continuously

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