Amends Tennessee procurement laws to allow open market purchases below certain thresholds without newspaper notice.

This bill amends Tennessee procurement laws to allow purchases, leases, or lease-purchase agreements below certain thresholds to be made in the open market without publishing a notice in a newspaper of general circulation. It requires at least three written quotations for purchases costing less than the bid threshold but more than forty percent of such threshold, or a lower amount set by the governing body. The changes take effect upon becoming law.

Amends Tennessee procurement laws to allow open market purchases below certain thresholds without newspaper notice.

This bill amends Tennessee procurement laws to allow purchases, leases, or lease-purchase agreements below certain thresholds to be made in the open market without publishing a notice in a newspaper of general circulation. It requires at least three written quotations for purchases costing less than the bid threshold but more than forty percent of such threshold, or a lower amount set by the governing body. The changes take effect upon becoming law.