Tennessee Senate Bill SB2942

Tennessee 2023-2024 Regular Session

• Introduced: 2/9/24
• Chaptered: 5/20/24
• Passed: 5/20/24

Caption

AN ACT to make appropriations for the purpose of defraying the expenses of the state government for the fiscal years beginning July 1, 2023, and July 1, 2024, in the administration, operation and maintenance of the legislative, executive and judicial branches of the various departments, institutions, offices and agencies of the state; for certain state aid and obligations; for capital outlay, for the service of the public debt, for emergency and contingency; to repeal certain appropriations and any acts inconsistent herewith; to provide provisional continuing appropriations; and to establish certain provisions, limitations and restrictions under which appropriations may be obligated and expended. This act makes appropriations for the purposes described above for the fiscal years beginning July 1, 2023, and July 1, 2024.

Impact

The bill stipulates how appropriated funds can be obligated and expended, including setting certain provisions, limitations, and restrictions. One significant aspect of SB2942 is its intention to bring fiscal responsibility by establishing frameworks such as the Revenue Fluctuation Reserve and policies around carry-forward balances. This is particularly pertinent in allocating funds effectively while addressing potential revenue shortfalls, which ensures stability in state funding mechanisms.

Summary

Senate Bill 2942 is an act making appropriations for defraying the expenses of the Tennessee state government for the fiscal years beginning July 1, 2023, and July 1, 2024. It encompasses the administration, operation, and maintenance costs of various branches and agencies of the state, while also addressing state aid, capital outlay, public debt service, and emergency provisions. It is essentially a budgetary measure that ensures the ongoing funding of state operations and services.

Sentiment

The general sentiment surrounding SB2942 appears to be one of necessary financial oversight and preparedness to manage the state's budget efficiently. Proponents of the bill contend that such measures are vital to ensuring that the state can respond adequately to economic fluctuations. Conversely, as with many budget-related discussions, there might be concerns regarding specific allocations and prioritizations, particularly regarding services that depend heavily on state funding, such as health care and education.

Contention

A notable point of contention could arise from the allocation of funds to programs like TennCare, which will receive significant resources as outlined in the bill. There may be debates on the sufficiency of the appropriations for critical services and welfare programs in the face of potential federal funding cuts. Additionally, the establishment of the Revenue Fluctuation Reserve may prompt discussions about the adequacy of funding levels for various services, especially among stakeholders reliant on state funding and advocacy organizations.