Bill > SB0840

This bill establishes two new special accounts in the Tennessee state treasury to manage excess lottery funds: the K-12 lottery capital outlay special account and the early learning program account. Any lottery funds exceeding $250 million at the end of a fiscal year will be equally divided between these two accounts. The K-12 lottery capital outlay account will be used exclusively for capital improvement projects in K-12 educational facilities, while the early learning program account will fund new or existing pre-kindergarten (pre-K) programs. The comptroller of the treasury will develop and administer grant programs for these accounts, creating a uniform application process and establishing allocation methods based on each local education agency's (LEA) average daily membership. The bill ensures that these funds will supplement, not replace, existing educational resources, and any unspent funds or accrued interest will carry forward into subsequent years. The comptroller is authorized to audit LEAs receiving grants and to create rules to implement the program, including the ability to promulgate emergency rules. This legislation aims to strategically use excess lottery funds to support educational infrastructure and early childhood education in Tennessee.