Fiscal Review Committee - As introduced, clarifies which procurement contracts are subject to review by the fiscal review committee of the general assembly; removes requirement that impact to commerce statements be included on fiscal notes prepared by the fiscal review committee. - Amends TCA Title 3, Chapter 2 and Title 4, Chapter 56.

This bill clarifies which state contracts require review by Tennessee's Fiscal Review Committee. It sets a $250,000 threshold for mandatory review of noncompetitive contracts (including amendments that increase costs or change terms) and removes the requirement to include "impact to commerce" statements in fiscal review documents. State agencies must now submit detailed justifications for noncompetitive contracts, including explanations of why competitive bidding wasn't used. The changes directly affect state departments and agencies when procuring goods or services over $250,000 through noncompetitive contracts.