Purchasing and Procurement - As introduced, requires local governments to obtain, when possible, three written quotations for purchases costing less than the threshold established pursuant to law but more than 40 percent of such threshold, or some lower amount as may be established by the governing body of the local government. - Amends TCA Section 5-14-204; Section 5-14-205 and Section 6-56-305.

HB 742 requires Tennessee local governments to obtain at least three written quotes for certain purchases, specifically those costing more than 40% but less than the full procurement threshold amount established by law or local resolution. This applies to purchases like equipment, supplies, or services that fall in the middle range of the current threshold system. The bill amends existing procurement laws to clarify that this three-quote requirement must be met "when possible," without changing the threshold amounts themselves. It directly affects all cities, counties, and local government entities making purchases within this specified cost range.