TN HB1979

Creates the "Promising Futures Act" establishing a special fund in the state treasury to support child care initiatives, funded by dedicating 80% of hemp-derived cannabinoid product taxes and 87.5% of vapor product taxes, plus excess regulatory fees and penalties from these industries

Establishes a Child Care Workforce Scholarship Pilot Program providing free child care to children of child care workers who work at least 30 hours per week, with $5 million allocated per three-year period and categorical eligibility regardless of household income

Creates CareShare Tennessee, an employer-supported child care assistance program with shared contributions from employers, employees, and the state, using a sliding scale state match of 50-100% based on household income relative to state median income, with $5 million allocated per three-year period

Establishes Smart Steps Plus to provide child care scholarships to working families earning between 85% and 150% of state median income who are ineligible for existing subsidy programs

Requires Department of Human Services to complete vendor procurement by November 1, 2026, begin pilot programs by January 1, 2027, and submit annual reports with independently verified performance data; act takes effect July 1, 2026