SB 654 - HB 717 FISCAL NOTE Fiscal Review Committee Tennessee General Assembly February 28, 2025 Fiscal Analyst: Chris Higgins | Email: chris.higgins@capitol.tn.gov | Phone: 615-741-2564 SB 654 - HB 717 SUMMARY OF BILL: Enacts the Caring for Caregivers Act. Requires the Department of Disability and Aging (DDA) to establish and administer a pilot program to provide grants to family caregivers of eligible family members with Alzheimer's disease or related dementia. Requires the pilot program to be operated from July 1, 2025 to December 31, 2028. Creates the Family Caregiver Grant Fund (Fund), composed of funds appropriated by the General Assembly and gifts, grants, and other donations received by DDA. Requires grants to be awarded to applicants on a first-come, first-served basis limited to the amount of $6,000 per family caregiver per fiscal year. Establishes that, to be eligible for a grant, a family caregiver's annual adjusted income from all sources must not exceed $37,000. Specifies that the legislative intent is an initial appropriation of $600,000 in FY25-26. Requires DDA to submit a report on or before October 1, 2026, and by October 1 of each subsequent year, to the chair of the Health and Welfare Committee of the Senate and the chair of the committee in the House of Representatives having jurisdiction over health-related matters on the status of the program and on the funds received and payments made by the Fund. FISCAL IMPACT: STATE GOVERNMENT REVENUE Family Caregiver Grant Fund Each FY25-26 through FY28-29 $600,000 EXPENDITURES General Fund Family Caregiver Grant Fund Each FY25-26 through FY28-29 $600,000 $600,000 Assumptions: • According to the Alzheimer's Association's 2024 Alzheimer's Disease Facts and Figures special report, there were approximately 129,200 individuals age 65 or over with Alzheimer's disease in Tennessee, as of 2020. • In 2023, approximately 369,000 caregivers provided support for those with Alzheimer's or other dementias in Tennessee, resulting in an estimated value of $7,804,000,000 in unpaid care. • The proposed legislation establishes the intent that an initial appropriation of $600,000 be made in FY25-26 for awarding grants from the Fund. SB 654 - HB 717 2 • It is assumed that 100 eligible caregivers will receive a $6,000 grant each year, resulting in an increase in expenditures of $600,000 (100 x $6,000) from the Fund in FY25-26 through FY28-29. • The DDA can award grants and submit the required reports utilizing existing personnel and resources, without a significant increase in expenditures. CERTIFICATION: The information contained herein is true and correct to the best of my knowledge. Bojan Savic, Executive Director