Amends TCA Title 67, Chapter 4, Part 7.
Tennessee SB0907 amends Title 67, Chapter 4, Part 7 of the Tennessee Code Annotated to exempt certain prescription drugs and patent medicines from business taxes if their cost for a 30-day supply exceeds the Medicare Part D specialty tier cost threshold, which is set at $590 for the 2025 plan year. This bill affects businesses involved in the sale of these medications by altering their tax obligations. Key provisions include the exemption of related services necessary for the preparation, storage, handling, administration, patient education, or post-sale monitoring of the exempted drugs and medicines.
Tennessee SB0907 amends Title 67, Chapter 4, Part 7 of the Tennessee Code Annotated to exempt certain prescription drugs and patent medicines from business taxes if their cost for a 30-day supply exceeds the Medicare Part D specialty tier cost threshold, which is set at $590 for the 2025 plan year. This bill affects businesses involved in the sale of these medications by altering their tax obligations. Key provisions include the exemption of related services necessary for the preparation, storage, handling, administration, patient education, or post-sale monitoring of the exempted drugs and medicines.
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Haile, Ferrell
114th General Assembly
February 5, 2025
April 20, 2026
Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2026