Bill > SB0885

This bill amends Tennessee tax law to expand pollution control tax credits to include nuclear energy production facilities, specifically focusing on machinery and equipment used in uranium processing. The bill modifies existing tax code to add a new definition for qualifying machinery related to uranium enrichment, deconversion, and conversion processes. Key provisions include providing tax exemptions for equipment used in various uranium-related industrial processes, such as enriching uranium through gaseous diffusion or centrifuge technologies, deconverting uranium from hexafluoride to oxide or metallic forms, and converting uranium from oxide to hexafluoride form. The tax exemption applies regardless of whether the equipment owner or the customer holds the title to the uranium materials and covers associated parts, repair components, and installation labor. These changes are designed to support and incentivize nuclear energy infrastructure and uranium processing activities in Tennessee, with the amendments set to take effect on July 1, 2025. The bill uses technical terms like Uranium-235 isotope, separative work unit (SWU), and enriched uranium product (EUP) to define the specific types of equipment and processes that qualify for the tax credits.

Agriculture and Natural Resources

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0885&ga=114