Fiscal Review Committee - As introduced, clarifies which procurement contracts are subject to review by the fiscal review committee of the general assembly; removes requirement that impact to commerce statements be included on fiscal notes prepared by the fiscal review committee. - Amends TCA Title 3, Chapter 2 and Title 4, Chapter 56.

Summary

The bill sets a $250,000 threshold for non‑competitive contracts and any amendments that raise liability or change terms, requiring those contracts to be sent to the Fiscal Review Committee before they can be signed. It also lists categories of contracts that are exempt, such as higher‑education research purchases and local‑government agreements. By clarifying review rules, the measure aims to improve oversight of large state spending.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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