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Tennessee Board for Licensing Contractors
Notification of Statutory Changes
Pursuant to T.C.A. § 4-3-1306(d), you are receiving this notice because you have elected to receive notification by e-mail of certain changes or potential changes to the law applicable to your profession. As such, the Department would notify you of the following Public Chapter that was passed during this legislative session and the effective date:
Bill Number: SB2429/HB1903
Public Chapter: PC0664 – https://publications.tnsosfiles.com/acts/113/pub/pc0664.pdf
Synopsis: This Act amends Tenn. Code Ann. §62-6-116(d) in regard to submitting a renewal application for a monetary limitation greater than $1,500,000 must be accompanied by a compilation prepared by a licensed public accountant or a certified public accountant. A renewal application of $1,500,000 or less must be accompanied by a notarized statement that the information contained in the financial statement is true and correct.
A reviewed or audited financial statement is no longer required, unless the Board, with cause, believes a reviewed or audited financial statement is in the best interests of the safety and welfare of the public.
Effective Date: April 9, 2024
If you have any questions or concerns about this new statute, please contact Stuart Huffman at stuart.huffman@tn.gov or 615-741-3072.
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