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Board hears Less Is More Act changes to CPA licensure and national UAA mobility updates
Summary
Members of the Tennessee State Board of Accountancy received a legislative briefing on the “Less Is More” package (SB1316/HB1330) that would add an alternate licensure pathway and change reciprocity and mobility standards; NASBA/AICPA revisions to the Uniform Accountancy Act were also discussed as a national frame for future state action.
The Tennessee State Board of Accountancy received a legislative update Tuesday about proposed changes to CPA licensure in Tennessee and related national model-law work that could shift how states handle mobility.
Lee Lott, staff member for the board, told members the package commonly called the "Less Is More Act" (Senate Bill 1316 / House Bill 1330, substitute) would create a second pathway to licensure. Under the bill as described to the board, the existing pathway — a bachelor’s degree plus 150 semester hours, one year of qualifying experience and passage of the Uniform CPA Examination — would remain. The new pathway would allow applicants who hold a bachelor’s degree and 120 semester hours plus two years of experience and passage of the CPA exam to seek licensure in Tennessee. Lott also summarized two changes affecting out‑of‑state licensees: reciprocity (licensure for applicants who move their…
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