<BillNo> <Sponsor>
HOUSE BILL 767
By Hicks G
HB0767
002784
- 1 -
AN ACT to amend Tennessee Code Annotated, Title 67,
Chapter 4, Part 7, relative to taxation.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-4-708(2)(D), is amended by
deleting the subdivision and substituting instead the following:
(D) Prescription drugs and patent medicines not otherwise exempt under ยง 67-4-
712(g)(1);
SECTION 2. Tennessee Code Annotated, Section 67-4-712, is amended by adding the
following as a new subsection:
(g) The tax imposed by this part does not apply to any receipts from the sale of
the following:
(1) Any prescription drug or medicine with a cost for a thirty-day
equivalent supply that exceeds the medicare part D specialty tier cost threshold
for 2025 plan years, as determined by the federal centers for medicare and
medicaid services (CMS) pursuant to 42 CFR 423.104(d)(2)(iv)(A); or
(2) Services necessary for proper preparation, storage, handling,
administration, patient education, or post-sale monitoring of drugs or medicines
exempt under subdivision (g)(1).
SECTION 3. This act takes effect July 1, 2025, the public welfare requiring it.