Skip to main content
Independent and nonpartisan. SaveYourState is a civic information resource. It is not a government website and is not affiliated with any government agency, party, or campaign.

Tennessee · 114th Regular Session (2025-2026) · Bill

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.

In committee Official data

  1. Introduced
  2. In committee
  3. Passed one chamber
  4. Passed both chambers
  5. Enacted

Last official action: ·Record last updated:

Plain-language summary

SB 32 is a bill introduced in the Tennessee Senate on January 6, 2025. According to its official title, it concerns: 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. Primary sponsor: Paul Bailey (Republican). Most recent recorded action (April 22, 2025): Assigned to General Subcommittee of Senate Finance, Ways & Means Committee.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written

Sponsors

Sponsors by party (alphabetical): Republican 1

NameRolePartyChamberDistrict
Paul BaileyPrimary sponsorRepublicanSenate15

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

  1. Assigned to General Subcommittee of Senate Finance, Ways & Means Committee
  2. Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2025
  3. Rule #83(8) Suspended, to be heard in Senate Finance, Ways & Means Committee on 4/15/2025
  4. Placed on Senate Finance, Ways, and Means Committee calendar for 4/15/2025
  5. Action deferred in Senate Finance, Ways & Means Committee / Behind the Budget
  6. Action deferred in Senate Finance, Ways, and Means Committee to 4/1/2025
  7. Action deferred in Senate Finance, Ways, and Means Committee to 3/18/2025
  8. Placed on Senate Finance, Ways, and Means Committee calendar for 3/18/2025
  9. Refer to Senate Finance, Ways & Means Committee w/ recommendation, as amended
  10. Placed on Senate Finance, Ways, and Means Committee calendar for 3/11/2025
  11. Placed on Senate FW&M Revenue Subcommittee calendar for 3/4/2025
  12. Refer to Senate F,W&M Revenue Subcommittee

Showing 12 most recent of 15 actions. Full history

Sources

  1. Open States / Plural (data from the official legislature website)
  2. Official legislature source