SENATE BILL 686
By White
HOUSE BILL 148
By White
HB0148
001607
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AN ACT to amend Tennessee Code Annotated, Title 4,
Chapter 49; Title 49, Chapter 4 and Title 49,
Chapter 7, relative to Tennessee Promise
scholarship students.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 49-7-178, is amended by deleting the
language "four-year pilot" in subsection (b), by deleting subsection (c), by deleting the word
"pilot" wherever it appears in subsections (d)-(f), by deleting subsection (h), by redesignating
subsection (d) as subsection (c), by redesignating subsection (e) as subsection (d), and by
adding the following as a new subsection (e):
(e)
(1) There is created a special account in the state treasury to be known
as the "Tennessee Promise completion grant special account," hereinafter
referred to as the "account," to be administered by the commission for purposes
of awarding completion grants pursuant to this section.
(2) Moneys in the account must be used exclusively to award completion
grants pursuant to this section.
(3) Any balance remaining unexpended at the end of a fiscal year in the
account does not revert to the general fund, but must be carried forward into the
subsequent fiscal year.
(4) Moneys in the account may be invested by the state treasurer in
accordance with § 9-4-602.
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(5) Interest accruing on investments and deposits of the account must be
credited to the account, must not revert to the general fund, and must be carried
forward into the subsequent fiscal year for purposes of this section.
SECTION 2. Tennessee Code Annotated, Section 49-7-178, is amended by deleting
subsection (g) and substituting instead the following:
(g) The commission shall include the outcomes of the program in the
commission's annual Tennessee promise report required by § 49-4-903(b).
SECTION 3. Tennessee Code Annotated, Section 49-7-178, is amended by deleting
subsection (f) and substituting instead the following:
(f) Subject to appropriation in the general appropriations act:
(1) The commission:
(A) Shall not use net proceeds of the state lottery to fund
completion grants awarded pursuant to this section; and
(B) May award completion grants pursuant to this section using
any funds available to the commission:
(i) In the Tennessee Promise completion grant special
account established pursuant to subsection (e); and
(ii) From the unexpended balance of the qualified work-
based learning grant fund established pursuant to § 49-11-903.
Any funds available to the commission from the unexpended
balance of the qualified work-based learning grant fund that
remain unexpended at the end of a fiscal year do not revert to the
general fund, but must be carried forward into subsequent fiscal
years to effectuate the purposes of this section; and
(2)
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(A) Funds allocated to the commission from the qualified work-
based learning grant fund for purposes of this section for each fiscal year
must provide the commission with sufficient funds to ensure that the
minimum balance of funds available to the commission on July 1 of each
fiscal year is not less than two hundred fifty thousand dollars ($250,000),
including any funds that may have been carried forward from preceding
fiscal years. The commission shall not award more than two hundred fifty
thousand dollars ($250,000) in completion grants from the funds allocated
to the commission from the qualified work-based learning grant fund in
any fiscal year; and
(B) Beginning with the 2025-2026 fiscal year, the commission
shall ensure that each college coaching initiative student is assigned a
coach through the program created in this section and that each college
coaching initiative student who is eligible for a completion grant under this
section, and who is eligible for financial aid received from the federal Pell
grant, has access to a completion grant amount of no more than one
thousand dollars ($1,000) each semester.
SECTION 4. This act is not an appropriation of funds, and funds must not be obligated
or expended pursuant to this act unless the funds are specifically appropriated by the general
appropriations act.
SECTION 5. This act takes effect upon becoming a law, the public welfare requiring it.