TN SB1723

Vacates the current Tennessee Education Lottery Corporation board of directors on July 1, 2026, replacing it with a new 9-member board appointed equally by the governor (3), speaker of the senate (3), and speaker of the house (3)

Initial terms are staggered at 2, 3, and 4 years per appointing authority, with subsequent terms lasting 4 years; directors serve at the pleasure of their appointing authority and may be removed with or without cause

Prohibits directors from having financial interests in lottery procurement contracts or retailers (except up to 1% stock ownership) and bans campaign contributions to gubernatorial or legislative candidates

Makes CEO/president hiring, compensation, and performance evaluation records public while requiring the corporation to comply with all state public records and open meetings laws

Adds the lottery corporation to the list of entities subject to legislative oversight review under Tennessee Code Annotated § 4-29-251