Purchasing and Procurement - As introduced, increases from $10,000 or more to $25,000 or more, the amount for which a local board of education or the governing body of a public charter school must make purchases or expenditures by competitive bids; requires the amount to be increased each fiscal year, beginning with the 2021-2022 fiscal year, by the greater of 2 percent or the rate of inflation. - Amends TCA Section 12-3-1212; Section 49-13-111 and Section 49-2-203.