Amends TCA Title 57, Chapter 3, Part 2; Title 57, Chapter 3, Part 8 and Title 57, Chapter 4, Part 1.

This bill authorizes a person or entity holding a retail package store license, liquor-by-the-drink license, or retail food store wine license to sell or transfer the person's or entity's inventory of alcoholic beverages or wine, as applicable, upon the sale or closure of the establishment to another licensee if certain requirements are met. Generally under present law, if a retail licensee ceases to do business through the voluntary or involuntary loss of the licensee's license, or if a non-licensed person obtains title to alcoholic beverages of a retail licensee as a result of a defaulted loan or execution, the wholesaler who sold the alcoholic beverages to the retailer must purchase such alcoholic beverages from the retailer at a base price of the wholesalers' laid-in cost of such alcoholic beverage. Under this bill, notwithstanding the above provisions or any other law to the contrary, a licensed retailer that is selling the licensed establishment to a new licensee of the same license type or that is closing the licensed establishment may sell or transfer its alcoholic beverages to the purchasing entity or person or to another establishment of the same license type held by the closing licensee, if: (1) The selling or closing licensee submits written notice to the commission and the department of revenue at least 10 days in advance of the sale or transfer to dispose of the licensee's remaining inventory. The notice must identify the licensee who is purchasing or receiving the inventory, the proposed date of the sale or transfer, and the quantity, types, and brands of alcoholic beverages to be sold or transferred; (2) All invoices and debts related to alcoholic beverages being sold or transferred are paid in full prior to the alcoholic beverages being sold or transferred; and (3) The purchaser or transferee is licensed as a retailer prior to the sale or transfer being finalized. Similarly, this bill authorizes a licensee under the provisions governing the sale of wine in retail food stores that that is selling the licensed establishment to a new licensee of the same license type or that is closing the licensed establishment to sell or transfer its wine to the purchasing entity or person or to another establishment of the same license type held by the closing licensee, if the conditions described above in (1) and (2) are met, as they relate to the licensee's wine, and if the purchaser or transferee is licensed by the commission under the provisions governing the sale of wine in retail food stores prior to the sale or transfer being finalized. This bill also authorizes a person licensed to sell alcoholic beverages for on-premises consumption that is selling the licensed establishment to a new licensee of the same license type or that is closing the licensed establishment to sell or transfer its alcoholic beverages to the purchasing entity or person or to another establishment of the same license type held by the closing licensee, if the conditions described above in (1) and (2) are met and the purchaser or transferee is licensed to sell alcoholic beverages for on-premises consumption prior to the sale or transfer being finalized.