Amends TCA Title 39, Chapter 14, Part 1.

Under present law, the offense of theft of property or services is punished based on the value of the property or services stolen, as follows: (1) A Class A misdemeanor if the value of the property or services obtained is $1,000 or less, except when the property obtained is a firearm; (2) A Class E felony if the property obtained is a firearm worth less than $2,500, or if the value of the property or services obtained is more than $1,000 but less than $2,500; (3) A Class D felony if the value of the property or services obtained is $2,500 or more but less than $10,000; (4) A Class C felony if the value of the property or services obtained is $10,000 or more but less than $60,000; (5) A Class B felony if the value of the property or services obtained is $60,000 or more but less than $250,000; and (6) A Class A felony if the value of the property or services obtained is $250,000 or more. This bill revises the penalty provisions to be as follows: (1) A Class A misdemeanor if the value of the property or services obtained is $1,000 or less; (2) A Class E felony if the value of the property or services obtained is $1,000 or more but less than $10,000; (3) A Class D felony if the value of the property or services obtained is $10,000 or more but less than $60,000; (4) A Class C felony if the value of the property or services obtained is $60,000 or more but less than $250,000; (5) A Class B felony if the value of the property or services obtained is $250,000 or more but less than $350,000; and (6) A Class A felony if the value of the property or services obtained is $350,000 or more. Under present law, theft of a firearm is punished by confinement for not less than 180 days in addition to any other penalty authorized by law. This bill rewrites this provision to instead provide that theft of property that includes a firearm will be punished based on its value, but in no event will the offense be less than a Class E felony.