House Bill 862, also known as Senate Bill 939, aims to amend the Tennessee Code Annotated regarding the economic impact of the cosmetology and barbering professions. The bill mandates that the Tennessee Advisory Commission on Intergovernmental Relations (TACIR) conduct a study to assess the economic contributions of these professions, including the revenue generated and the number of jobs created. 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, which may include proposed legislation, to the chairs of the Senate Commerce and Labor Committee and the 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 act will take effect upon becoming law, emphasizing its importance for public welfare.