| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | HOUSE BILL 348 | |
| 3 | 3 | By Hurt | |
| 4 | 4 | ||
| 5 | 5 | SENATE BILL 614 | |
| 6 | 6 | By Hensley | |
| 7 | 7 | ||
| 8 | 8 | ||
| 9 | 9 | SB0614 | |
| 10 | 10 | 001003 | |
| 11 | 11 | - 1 - | |
| 12 | 12 | ||
| 13 | 13 | AN ACT to amend Tennessee Code Annotated, Section | |
| 14 | 14 | 49-3-314, relative to education finance. | |
| 15 | 15 | ||
| 16 | 16 | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: | |
| 17 | 17 | SECTION 1. Tennessee Code Annotated, Section 49-3-314(c), is amended by adding | |
| 18 | 18 | the following as a new subdivision: | |
| 19 | 19 | (5) | |
| 20 | 20 | (A) Notwithstanding a law to the contrary, for fiscal year 2025-2026 and | |
| 21 | 21 | any subsequent fiscal year, if a local government adopts a budget that includes | |
| 22 | 22 | the maintenance of local funding effort required under this section but fails to | |
| 23 | 23 | appropriate or allocate the full amount budgeted to the LEA, then the local | |
| 24 | 24 | government shall appropriate and allocate the unfunded portion to the LEA in the | |
| 25 | 25 | following fiscal year. | |
| 26 | 26 | (B) Funds appropriated under subdivision (c)(5)(A) to correct a local | |
| 27 | 27 | funding shortfall must be considered a nonrecurring expenditure under | |
| 28 | 28 | subdivision (c)(4). The maintenance of local funding effort required for a fiscal | |
| 29 | 29 | year following a fiscal year in which the local government failed to appropriate or | |
| 30 | 30 | allocate the full amount budgeted to the LEA must be determined based on the | |
| 31 | 31 | amount budgeted to the LEA for the previous fiscal year instead of the amount | |
| 32 | 32 | actually appropriated or allocated to the LEA by the local government. | |
| 33 | 33 | SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it. |