Tennessee Senate Bill SB1743

Tennessee 2023-2024 Regular Session

• Introduced: 1/10/24
• Chaptered: 3/26/24
• Passed: 3/26/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 12, Chapter 3, Part 6, relative to records retention for state contracts.

Impact

The amendments in SB 1743 are expected to have significant implications for the state government's procurement processes and record management practices. By extending the records retention requirement, the bill enhances the ability of state officials and auditors to conduct thorough reviews and assessments of procurement activities. This could improve transparency and accountability in how state contracts are managed and executed. Moreover, it aims to provide a more robust framework for compliance with various regulation and oversight demands.

Summary

Senate Bill 1743 proposes amendments to the Tennessee Code Annotated specifically within Title 12, Chapter 3, Part 6, which governs records retention for state contracts. The key amendments involve extending the required retention period for records related to state contracts from three years to five years. This aligns the documentation retention procedures with an increased emphasis on accountability and record-keeping for public contracts. With the new provisions set to take effect on July 1, 2024, the bill aims to ensure that agreements for the procurement of goods and services by state agencies are adequately documented over a longer duration.

Sentiment

The general sentiment around SB 1743 appears to be supportive among lawmakers focused on improving governmental transparency. Proponents argue that longer retention periods will facilitate better oversight and prevent mismanagement of state contracts, which have implications for public trust and resource allocation. Conversely, there may be concerns regarding the administrative burden this could impose on state agencies in terms of resources and workforce required to maintain and manage additional records.

Contention

While the bill has garnered support, notable points of contention could arise concerning the practicality of enforcing the extended retention period. Critics may argue that the increased duration places unnecessary strain on agency resources, requiring them to allocate additional time and funding to comply with the new requirements. The debates around SB 1743 may revolve around finding a balance between ensuring accountability and managing the administrative overhead that comes with prolonged records keeping.