SB 715 - HB 713
FISCAL NOTE
Fiscal Review Committee
Tennessee General Assembly
February 21, 2025
Fiscal Analyst: Laura Moore | Email: laura.moore@capitol.tn.gov | Phone: 615-741-2564
SB 715 - HB 713
SUMMARY OF BILL: Makes various changes to the regulation of cemetery companies.
Revises requirements relative to the fees a cemetery company can charge for memorial care and the
installation of a commodity. Revises how the fair market value of a cemetery company’s
improvement care trust fund is calculated.
Creates a process for a cemetery company to gain ownership of an abandoned grave space located at
the company’s cemetery through an abandonment of interment rights. Requires any reclaimed
interments to be recorded with the Commissioner of the Department of Commerce and Insurance
(DCI) upon request.
Prohibits a cemetery from reclaiming any interment right if a memorial has been installed on the
cemetery space. Entitles an individual who provides proof of ownership of an interment right that
was deemed abandoned and has been used or sold by the cemetery company to receive an interment
right from the company's available inventory of equal value to the resale price of the original
purchase price for up to 25 years after the right was reclaimed by the cemetery company.
Changes the name of the Cemetery Consumer Protection Account to the Cemetery State
Administrative Account within the General Fund. Prohibits a cemetery company from charging a
consumer more than one state administrative fee for the execution of one or more cemetery
contracts entered into by the consumer at any one time.
FISCAL IMPACT:
NOT SIGNIFICANT
Assumptions:
• The DCI, Division of Burial Services/Cemetery, regulates cemetery companies.
• The proposed legislation will not impact the Division’s revenue, licensing, or regulation
requirements; therefore, any impact is estimated to be not significant.
• The Cemetery Consumer Protection Account had a balance of $428,800 in FY23-24 and a
balance of $549,444 as of June 30, 2024.
• Pursuant to Tenn. Code Ann. § 4-29-121, all regulatory boards are required to be self-
sufficient over any two-year period. The Burial Services/Cemetery division experienced a
surplus of $156,010 in FY22-23, a surplus of $75,105 in FY23-24, and had a cumulative
reserve balance of $1,929,737 on June 30, 2024.
SB 715 - HB 713 2
IMPACT TO COMMERCE:
NOT SIGNIFICANT
Assumption:
• The proposed legislation will have no significant impact on jobs or commerce in Tennessee.
CERTIFICATION:
The information contained herein is true and correct to the best of my knowledge.
Bojan Savic, Executive Director