Loading chat...

TN HB0767

Bill

Official Source

Status

Introduced

2/4/2025

Primary Sponsor

Gary Hicks

Click for details

Origin

House of Representatives

114th General Assembly

AI Summary

  • Exempts high-cost prescription drugs from Tennessee's business tax when the 30-day supply cost exceeds the Medicare Part D specialty tier threshold for 2025 plan years (set by CMS under federal regulations)

  • Exempts related services from taxation, including preparation, storage, handling, administration, patient education, and post-sale monitoring of qualifying exempt drugs

  • Amends Tennessee Code Annotated Section 67-4-712 to create a new subsection establishing these exemptions

  • Takes effect July 1, 2025

Legislative Description

AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, Part 7, relative to taxation.

Taxes, Business

Last Action

Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025

4/9/2025

Committee Referrals

Finance, Ways & Means Subcommittee2/26/2025
Finance, Ways & Means2/6/2025

Full Bill Text

No bill text available