TN HB0136

Adds definitions for "covenant violation" (noncompliance with lending document covenants) and "credit rating downgrade" (reduction or elimination of credit rating by SEC-recognized rating organizations) to Tennessee debt reporting law

Requires public entities to submit finance transaction information to their governing body and the comptroller of the treasury within 45 days of issuance, reissuance, incurrence, execution, or assumption

Mandates public entities comply with continuing disclosure obligations and disclose financial obligations and events of default on the EMMA website of the Municipal Securities Rulemaking Board, if applicable

Requires public entities to report any event of default, covenant violation, or credit rating downgrade to the comptroller within 10 business days following board-approved guidelines

Took effect immediately upon becoming law on March 12, 2025, citing public welfare necessity