Senate Bill 1465 amends the Tennessee Code Annotated regarding the taxation of labor performed on tangible personal property. The bill removes the phrase "labor or service cost" from Section 67-6-102(87)(A)(ii) and deletes subdivision (v) from the same section, which leads to a renumbering of subsequent subdivisions. Additionally, it introduces a new subdivision (v) under Section 67-6-102(87)(B) that specifies that labor and service costs, including repair and installation labor charges, must be separately stated on invoices or similar billing documents provided to purchasers.

Furthermore, the bill deletes subdivisions (4) and (6) from Section 67-6-205(c) and removes subsection (d) from Section 67-6-203, resulting in the renumbering of remaining subdivisions. The act will take effect upon becoming law for the purpose of promulgating rules, while all other provisions will be effective starting July 1, 2026.

Statutes affected:
Introduced: 67-6-102(87)(A)(ii), 67-6-102, 67-6-102(87)(A), 67-6-102(87)(B), 67-6-205(c), 67-6-205, 67-6-203