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Bill > SB2078
TN SB2078
TN SB2078AN 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
01/22/2026
01/22/2026
In Committee
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, known as "net lottery proceeds," was not enough to fully cover the costs of specific scholarships and grants funded by these proceeds. This shortfall could have led to either a proportional decrease in the amount awarded to students for these scholarships and grants or the use of a reserve fund, called the "general shortfall reserve subaccount," to make up the difference in funding for educational programs. The bill aims to provide transparency regarding the financial health of these lottery-funded financial aid programs.
Committee Categories
Education
Sponsors (1)
Last Action
Senate Education Hearing (15:00:00 3/11/2026 Cordell Hull Building) (on 03/11/2026)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB2078&ga=114 |
| Fiscal Note - HB1863 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB1863.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB2078.pdf |
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