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TN SB2159

Bill

Official Source

Status

Introduced

2/2/2026

Primary Sponsor

Bo Watson

Click for details

Origin

Senate

114th General Assembly

AI Summary

  • Amends the funding mechanism for the Tennessee Promise scholarship special reserve account beginning in fiscal year 2025-2026
  • Requires excess funds from the lottery for education account to be transferred to the Tennessee Promise scholarship special reserve account on at least an annual basis
  • Excess funds are defined as amounts exceeding the general shortfall reserve subaccount plus $10 million
  • Caps the annual transfer amount at $10 million per fiscal year
  • State treasurer and commissioner of finance and administration determine transfer frequency

Legislative Description

AN ACT to amend Tennessee Code Annotated, Section 49-4-708, relative to the Tennessee Promise scholarship endowment fund.

Education, Higher

Last Action

Placed on Senate Finance, Ways, and Means Committee calendar for 3/17/2026

3/10/2026

Committee Referrals

Finance, Ways and Means3/4/2026
Education2/5/2026

Full Bill Text

No bill text available