Bill > SB2682

This bill requires certain public officials, including the governor, members of the general assembly, and Tennessee representatives to the U.S. Congress, along with their spouses, to either sell off or place specific types of investments, referred to as "covered investments," into a blind trust by October 1, 2026, or within 90 days of taking office for new officials. Covered investments are defined as direct investments in things like stocks or commodities, or indirect investments in funds or plans, but exclude diversified mutual funds, exchange-traded funds, treasury bonds, and retirement plan compensation. After complying, officials must submit a certificate of compliance to the commissioner, who oversees the process and can grant extensions for good cause, and may impose civil penalties of up to $1,000 per day for violations. The bill also allows the commissioner to create rules to further define covered investments, with the entire act taking effect on July 1, 2026.

Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/Default?BillNumber=SB2682&ga=114