AN ACT to amend Tennessee Code Annotated, Title 57, relative to alcohol.
If enacted, SB0995 will introduce a systematic approach to monitoring the financial aspects of alcohol sales, which could lead to an increased accountability in how these funds are managed and utilized. This amendment aims to ensure that the Tennessee General Assembly has access to up-to-date financial data regarding alcohol revenues, potentially aiding in informed legislative decision-making. The requirement for electronic reporting reflects a modern approach to transparency and fiscal responsibility, aligning with trends towards digital record-keeping in government operations.
Senate Bill 995, sponsored by Senator Yager, aims to amend Tennessee Code Annotated, specifically Title 57, concerning alcohol regulation. The primary objective of SB0995 is to enhance oversight and transparency in the collection of revenues related to alcohol sales within the state. The bill mandates that the commissioner responsible for alcohol regulation report annually to the General Assembly, detailing the funds collected under the specified section of the code. This reporting is to be completed in an electronic format by February 1 of each year, beginning in 2024. The bill is poised to take effect on July 1, 2023, contingent upon the public welfare requiring it.
While the bill appears to be a straightforward administrative measure, it's essential to note that discussions may arise concerning the implications of increased regulatory oversight on local businesses involved in the alcohol industry. Stakeholders might express concerns over additional burdens imposed by reporting requirements, or debates regarding the efficiency and capacity of state agencies to manage and analyze the expected data. Overall, the success of SB0995 may hinge on the balance between accountability to the Assembly and minimizing compliance burdens on businesses.