| 4 | 3 | | |
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| 5 | 4 | | HOUSE BILL 148 |
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| 6 | 5 | | By White |
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| 7 | 6 | | |
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| 8 | 7 | | |
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| 9 | 8 | | HB0148 |
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| 10 | 9 | | 001607 |
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| 11 | 10 | | - 1 - |
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| 12 | 11 | | |
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| 13 | 12 | | AN ACT to amend Tennessee Code Annotated, Title 4, |
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| 14 | 13 | | Chapter 49; Title 49, Chapter 4 and Title 49, |
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| 15 | 14 | | Chapter 7, relative to Tennessee Promise |
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| 16 | 15 | | scholarship students. |
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| 17 | 16 | | |
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| 18 | 17 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: |
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| 19 | 18 | | SECTION 1. Tennessee Code Annotated, Section 49-7-178, is amended by deleting the |
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| 20 | 19 | | language "four-year pilot" in subsection (b), by deleting subsection (c), by deleting the word |
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| 21 | 20 | | "pilot" wherever it appears in subsections (d)-(f), by deleting subsection (h), by redesignating |
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| 22 | 21 | | subsection (d) as subsection (c), by redesignating subsection (e) as subsection (d), and by |
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| 23 | 22 | | adding the following as a new subsection (e): |
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| 24 | 23 | | (e) |
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| 25 | 24 | | (1) There is created a special account in the state treasury to be known |
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| 26 | 25 | | as the "Tennessee Promise completion grant special account," hereinafter |
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| 27 | 26 | | referred to as the "account," to be administered by the commission for purposes |
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| 28 | 27 | | of awarding completion grants pursuant to this section. |
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| 29 | 28 | | (2) Moneys in the account must be used exclusively to award completion |
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| 30 | 29 | | grants pursuant to this section. |
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| 31 | 30 | | (3) Any balance remaining unexpended at the end of a fiscal year in the |
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| 32 | 31 | | account does not revert to the general fund, but must be carried forward into the |
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| 33 | 32 | | subsequent fiscal year. |
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| 34 | 33 | | (4) Moneys in the account may be invested by the state treasurer in |
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| 35 | 34 | | accordance with § 9-4-602. |
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| 36 | 35 | | |
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| 37 | 36 | | |
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| 38 | 37 | | - 2 - 001607 |
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| 39 | 38 | | |
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| 40 | 39 | | (5) Interest accruing on investments and deposits of the account must be |
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| 41 | 40 | | credited to the account, must not revert to the general fund, and must be carried |
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| 42 | 41 | | forward into the subsequent fiscal year for purposes of this section. |
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| 43 | 42 | | SECTION 2. Tennessee Code Annotated, Section 49-7-178, is amended by deleting |
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| 44 | 43 | | subsection (g) and substituting instead the following: |
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| 45 | 44 | | (g) The commission shall include the outcomes of the program in the |
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| 46 | 45 | | commission's annual Tennessee promise report required by § 49-4-903(b). |
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| 47 | 46 | | SECTION 3. Tennessee Code Annotated, Section 49-7-178, is amended by deleting |
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| 48 | 47 | | subsection (f) and substituting instead the following: |
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| 49 | 48 | | (f) Subject to appropriation in the general appropriations act: |
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| 50 | 49 | | (1) The commission: |
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| 51 | 50 | | (A) Shall not use net proceeds of the state lottery to fund |
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| 52 | 51 | | completion grants awarded pursuant to this section; and |
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| 53 | 52 | | (B) May award completion grants pursuant to this section using |
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| 54 | 53 | | any funds available to the commission: |
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| 55 | 54 | | (i) In the Tennessee Promise completion grant special |
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| 56 | 55 | | account established pursuant to subsection (e); and |
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| 57 | 56 | | (ii) From the unexpended balance of the qualified work- |
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| 58 | 57 | | based learning grant fund established pursuant to § 49-11-903. |
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| 59 | 58 | | Any funds available to the commission from the unexpended |
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| 60 | 59 | | balance of the qualified work-based learning grant fund that |
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| 61 | 60 | | remain unexpended at the end of a fiscal year do not revert to the |
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| 62 | 61 | | general fund, but must be carried forward into subsequent fiscal |
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| 63 | 62 | | years to effectuate the purposes of this section; and |
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| 64 | 63 | | (2) |
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| 65 | 64 | | |
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| 66 | 65 | | |
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| 67 | 66 | | - 3 - 001607 |
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| 68 | 67 | | |
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| 69 | 68 | | (A) Funds allocated to the commission from the qualified work- |
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| 70 | 69 | | based learning grant fund for purposes of this section for each fiscal year |
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| 71 | 70 | | must provide the commission with sufficient funds to ensure that the |
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| 72 | 71 | | minimum balance of funds available to the commission on July 1 of each |
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| 73 | 72 | | fiscal year is not less than two hundred fifty thousand dollars ($250,000), |
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| 74 | 73 | | including any funds that may have been carried forward from preceding |
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| 75 | 74 | | fiscal years. The commission shall not award more than two hundred fifty |
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| 76 | 75 | | thousand dollars ($250,000) in completion grants from the funds allocated |
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| 77 | 76 | | to the commission from the qualified work-based learning grant fund in |
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| 78 | 77 | | any fiscal year; and |
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| 79 | 78 | | (B) Beginning with the 2025-2026 fiscal year, the commission |
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| 80 | 79 | | shall ensure that each college coaching initiative student is assigned a |
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| 81 | 80 | | coach through the program created in this section and that each college |
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| 82 | 81 | | coaching initiative student who is eligible for a completion grant under this |
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| 83 | 82 | | section, and who is eligible for financial aid received from the federal Pell |
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| 84 | 83 | | grant, has access to a completion grant amount of no more than one |
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| 85 | 84 | | thousand dollars ($1,000) each semester. |
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| 86 | 85 | | SECTION 4. This act is not an appropriation of funds, and funds must not be obligated |
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| 87 | 86 | | or expended pursuant to this act unless the funds are specifically appropriated by the general |
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| 88 | 87 | | appropriations act. |
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| 89 | 88 | | SECTION 5. This act takes effect upon becoming a law, the public welfare requiring it. |
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