SB 277 – HB 400
FISCAL NOTE
Fiscal Review Committee
Tennessee General Assembly
January 31, 2025
Fiscal Analyst: Laura Moore | Email: laura.moore@capitol.tn.gov | Phone: 615-741-2564
SB 277 – HB 400
SUMMARY OF BILL: Changes the examination subject requirements for a certificate to
become a certified public accountant under the State Board of Accountancy from business law and
taxation to the subjects of taxation and regulation. Removes the board’s requirement of prescribing
rules related to methods for grading papers when determining a passing grade required of an
applicant for a certificate.
FISCAL IMPACT:
NOT SIGNIFICANT
Assumptions:
• According to the Department of Commerce and Insurance, there will not be a significant
impact to the State Board of Accountancy.
• The proposed legislation will not have a significant impact on the number of applicants, or
the number of certificates issued or renewed in this state. Therefore, any impact on the
Board’s fee revenue is considered to be not significant.
• Pursuant to Tenn. Code Ann. § 4-29-121, all regulatory boards are required to be self-
sufficient over any two-year period.
• The State Board of Accountancy experienced a deficit of $7,556 in FY22-23, a deficit of
$13,958 in FY23-24, and had a cumulative reserve balance of $1,587,244 on June 30, 2024.
IMPACT TO COMMERCE:
NOT SIGNIFICANT
Assumption:
• Passage of the proposed legislation not significantly impact jobs or commerce.
SB 277 – HB 400 2
CERTIFICATION:
The information contained herein is true and correct to the best of my knowledge.
Bojan Savic, Executive Director