Bill > HB0966

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 each fiscal year will be equally divided between these two accounts. The K-12 lottery capital outlay account will fund capital improvement projects for K-12 educational facilities, while the early learning program account will support new or existing pre-kindergarten (pre-K) programs. The comptroller of the treasury is tasked with developing and administering grant programs for these accounts, creating a uniform application process, and establishing matching dollar requirements based on need. Local education agencies (LEAs) will receive grants calculated using a formula based on their average daily membership relative to the state total. The bill specifies that these funds must supplement, not replace, existing educational resources, and any unawarded funds will carry forward for future use by the respective LEA. The comptroller is authorized to audit grant recipients and to promulgate rules to implement the act, including emergency rules if necessary. The bill aligns with Article XI, Section 5 of the Tennessee Constitution and will take effect immediately upon becoming law.