Amends TCA Title 62, Chapter 6.

Present law generally requires that a person obtain a contractor license in order to undertake to, attempt to or submit a price or bid or offer to construct, supervise, superintend, oversee, schedule, direct or in any manner assume charge of the construction, alteration, repair, improvement, movement, demolition, putting up, tearing down or furnishing labor to install material or equipment for any building, highway, road, railroad, sewer, grading, excavation, pipeline, public utility structure, project development, housing, housing development, improvement or any other construction undertaking for which the total cost is $25,000 or more. This bill changes the threshold for undertakings that require a contractor license from $25,000 to the minimum project cost amount.<br /> <br /> Under this bill, the minimum project cost amount is the greater of $40,928 or an amount equal to $40,928 adjusted for CPI increases in building material and supplies according to the most recent version of the United States Bureau of Labor Statistics' Producer Price Index by Industry Building Material and Supplies Dealers as published by the Federal Reserve Economic Data database, or a successor index, with the base year amount representing the price of building material and supplies that is represented by the index as of December 2021.<br /> <br /> This bill requires the state board for licensing contractors to publish on its website, in a manner accessible to the general public, the dollar amount that represents the minimum project cost amount, and update that amount no less than once per calendar year.<br />