House Bill 862, sponsored by Parkinson, aims to assess the economic impact of the cosmetology and barbering professions in Tennessee. The bill mandates the Tennessee Advisory Commission on Intergovernmental Relations (TACIR) to conduct a study that evaluates the revenue generated from these professions and the number of jobs they create. TACIR is authorized to request information from the Department of Commerce and Insurance and other relevant governmental entities, which are required to comply with these requests. The study will utilize TACIR's existing resources.

Upon completion of the study, TACIR is required to report its findings and recommendations, including any proposed legislation, to the chairs of the Senate Commerce and Labor Committee and the relevant House committee overseeing cosmetology and barbering. A copy of the report will also be provided to the legislative librarian, and it may be delivered electronically. The bill is set to take effect upon becoming law, emphasizing the importance of understanding the economic contributions of these professions to the state.