When was Tennessee Senate Bill SB 32 introduced?

SB 32 was introduced on Jan 06, 2025.

What's the current status of Tennessee Senate Bill SB 32?

The latest action on SB 32 by the Senate was: Placed on Senate Finance, Ways, and Means Committee calendar for 4/15/2025 on Apr 14, 2025.

Who introduced Tennessee Senate Bill SB 32?

SB 32 was introduced by Paul Bailey.

Bill tracking in Tennessee - SB 32 (114 legislative session)

Introduced
Jan 06, 2025
Passed Senate
Passed House
Signed into Law

SB 32

Tennessee Senate Bill

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.

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Senate • Apr 14, 2025: Placed on Senate Finance, Ways, and Means Committee calendar for 4/15/2025

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