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Bill > HB1863
TN HB1863
TN HB1863AN ACT to amend Tennessee Code Annotated, Title 4, Chapter 49; Title 4, Chapter 51 and Title 49, Chapter 4, relative to safeguarding financial aid programs funded using net lottery proceeds.
summary
Introduced
01/21/2026
01/21/2026
In Committee
02/02/2026
02/02/2026
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, requires the Tennessee higher education commission to submit a report to the education and finance committees of the senate and house of representatives identifying any fiscal year, beginning with the 2004 fiscal year, for which net lottery proceeds were insufficient to fully fund certain scholarships and grants, resulting in a pro rata reduction in award amounts or a draw upon the general shortfall reserve subaccount. - Amends TCA Title 4, Chapter 49; Title 4, Chapter 51 and Title 49, Chapter 4.
AI Summary
This bill requires the Tennessee Higher Education Commission (THEC) to produce a one-time report by October 1, 2027, detailing any fiscal year from 2004 through 2026 where the money generated from lottery sales, after expenses (known as "net lottery proceeds"), was not enough to fully cover the costs of specific scholarships and grants funded by these proceeds. The report must identify if these shortfalls led to either a proportional decrease in the amount of money students received for these scholarships and grants, or if funds had to be taken from a special reserve account, the "general shortfall reserve subaccount," to make up the difference in the "lottery for education account" which is designated for educational programs.
Committee Categories
Education
Sponsors (1)
Last Action
Assigned to s/c Higher Education Subcommittee (on 02/02/2026)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1863&ga=114 |
| Fiscal Note - HB1863 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB1863.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/HB1863.pdf |
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