Bill > SB0603

This bill requires the Tennessee Student Assistance Corporation (TSAC), a state agency responsible for managing educational financial aid programs, to submit a comprehensive annual report to the Tennessee state legislature's education committees by July 31st each year. The report must provide detailed scholarship program data for the five most recent academic years, including the total amount of legislative appropriations for the scholarship program, the number of scholarship applications received, the total number of scholarship recipients, and the average scholarship award amount. By mandating this annual reporting, the bill aims to increase transparency and provide lawmakers with consistent, detailed information about the state's scholarship programs, which can help inform future educational funding and policy decisions. The bill will take effect immediately upon becoming law, reflecting the state's assessment that the public welfare would benefit from enhanced accountability in educational financial assistance.