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Sen. Wally's bill to end attorneys' professional privilege tax after 20 years gets negative recommendation

Tennessee Senate Revenue Subcommittee ยท March 3, 2026

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Summary

The revenue subcommittee recommended against Senate Bill 1963, which would stop collecting the professional privilege tax from Tennessee attorneys after 20 years of payments; the subcommittee cited a $3.3 million fiscal cost and approved a negative recommendation in a recorded vote.

Senator Wally introduced Senate Bill 1963 as a targeted tax-relief measure for long-practicing Tennessee attorneys, saying the bill "continues our effort to provide tax relief to Tennesseans" and would exempt attorneys from the professional privilege tax "after their twentieth year of paying into the . . . professional privilege tax."

The clerk reported the measure carries a fiscal cost of $3,300,000. Senator Hale moved a negative recommendation, seconded by Senator Powers. In the roll-call vote, Senators Hale, Powers, Yarbrough and Chairman Hensley voted aye (in favor of the negative recommendation); Senator Wally voted no. The committee sent Senate Bill 1963 to full finance with a negative recommendation.

The committee did not debate amendments or add conditions before the vote. The bill's next procedural step is consideration by the full Senate Finance Committee.