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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.

114th Regular Session (2025-2026) Introduced by Paul Bailey

SB 32 is a placeholder local act for the 11th District (Nash, Franklin, Vance) with no substantive provisions; it becomes law when enacted, pending future amendments.

Assigned to General Subcommittee of Senate Finance, Ways & Means Committee
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WeVote Research Nonpartisan
Bill Summary · SB 32

Summary — SB 32 (11th Senatorial District Local Act‑1)

  • Bill number: SB 32
  • Short title: 11th Senatorial District Local Act‑1
  • Sponsor: Senator Barnes (primary sponsor, per bill cover)
  • Subject tags (as filed): BLANK BILL; COUNTIES; LOCAL; NASH COUNTY; FRANKLIN COUNTY; VANCE COUNTY
  • Introduced / filed: August 15, 2025
  • Current status (per user record): Passed 1st Reading
  • Scope: Local act — applies only to the 11th Senatorial District

Main purpose / intent

As filed, SB 32 is a local act titled for the 11th Senatorial District. The printed bill text contains only two short sections stating that the act "relates only to the 11th Senatorial District" and that it becomes effective when enacted. No substantive policy, regulatory, or program provisions are included in the version provided — the bill is effectively a placeholder or “blank” local act.

Because there is no substantive language in the provided text, the bill currently does not change statutes or impose new duties or rights. Its primary identifiable features are its geographic limitation (11th Senatorial District) and the counties noted in the subject tags (Nash, Franklin, Vance).

Key provisions (what the bill WOULD do — based on available text)

  • Section 1: Declares the act applies only to the 11th Senatorial District.
  • Section 2: States the act’s effective date will be when it becomes law.

No additional provisions, definitions, requirements, appropriations, or enforceable obligations appear in the circulated text.

Who would be affected

  • Jurisdictional scope: residents, local governments, and other entities located in the 11th Senatorial District (subject tags indicate Nash, Franklin, and Vance counties).
  • Practical effect: Because the bill currently contains no substantive provisions, there is no direct policy impact on constituents, county governments, or state agencies from the version provided.

Procedural / timeline notes

  • Filed/introduced: August 15, 2025 (per the bill header provided).
  • Status: Passed first reading (next steps typically include committee referral, hearings, further readings, and concurrence/enactment).
  • Effective date: as written, the act would take effect upon becoming law (the usual local‑act effective date unless the Legislature specifies otherwise).

Interpretation and recommended next steps

  • This filing appears to be a placeholder or shell local act. Local acts are often used to address county‑specific matters (e.g., local governance, special elections, boundary clarifications, appointments, or other targeted statutory exceptions). However, no such measures are specified here.
  • If you are a stakeholder (county official, municipal government, advocacy group, constituent in Nash/Franklin/Vance), monitor the bill for amended text that would add substantive provisions. Key moments to watch: committee assignment, public hearing notices, and any posted committee substitute or amendment.
  • To learn the bill’s intended substantive content (if any), contact the sponsor’s office (Senator Barnes) or the bill drafter/legislative services for any pending amendments or redrafts. Request any forthcoming committee analyses or fiscal notes when substantive language appears.

If you want, I can:
- Monitor available legislative feeds for posted amendments or committee reports on SB 32 and alert you to substantive changes; or
- Draft a short stakeholder letter template you can send to the sponsor or relevant committee asking for clarification of the bill’s purpose.

Compiled from official sources — confirm details with the bill’s official record.

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