Bill > SB1662

This bill establishes a new "public institution athletic program fund" to support intercollegiate athletic programs at public universities in Tennessee. The fund will be financed by a fee paid by vendors who have revenue-sharing agreements with licensees, which is set at twenty-five percent (25%) of the compensation received by the vendor. This fee will be collected by the sports wagering council and deposited into the fund. The Tennessee Higher Education Commission (THEC) will administer this fund and award grants to eligible public institutions to help cover "eligible recruiting expenses," which include costs associated with attracting student-athletes, such as travel, lodging, and promotional materials, but not payments to athletes themselves. The bill defines "public institution" as a four-year public university that competes in at least three intercollegiate sports annually, excluding institutions governed by the board of regents. THEC will develop a formula for distributing these grants, prioritizing institutions with fewer students to receive larger awards, and will specifically prioritize the six locally governed state universities. The commission is also required to report annually on the fund's status and the impact of the grants.

Education

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1662&ga=114