HB 415 – SB 838
FISCAL NOTE
Fiscal Review Committee
Tennessee General Assembly
March 11, 2025
Fiscal Analyst: Justin Billingsley | Email: justin.billingsley@capitol.tn.gov | Phone: 615-741-2564
HB 415 – SB 838
SUMMARY OF BILL : Requires the Tennessee Advisory Commission on Intergovernmental
Relations (TACIR) to conduct a study addressing steps the state can take to protect its financial
security and soundness and ensure state sovereignty and resiliency. Outlines specific issues which
such study must address. Requires TACIR to complete and distribute such study to each member of
the General Assembly and the Legislative Librarian on or before September 1, 2025.
FISCAL IMPACT:
STATE GOVERNMENT
EXPENDITURES General Fund
FY25-26 >$100,000
Assumptions:
• According to TACIR, it cannot complete this study within its existing resources, as a study
of this scope would require a contract with an entity who can perform such study.
• This study would need to be completed and distributed to the appropriate recipients by
September 1, 2025.
• The one-time increase in state expenditures in FY25-26 due to contracting with an outside
expert is estimated to exceed $100,000 and could possibly be covered by TACIR’s reserves.
• As of June 30, 2024, the TACIR reserve fund had a balance of $2,851,576. As of September
2024, TACIR reverted $1,000,000 to the General Fund.
IMPACT TO COMMERCE OF BILL AS AMENDED:
BUSINESS IMPACT
FISCAL YEAR REVENUE EXPENSES
FY25-26 >$100,000 >$100,000
Assumption:
• It is assumed the study will be performed by a non-governmental entity. The increase in
revenue and expenses for such entity are estimated to exceed $100,000. Any impact on jobs
will be not significant.
HB 415 – SB 838 2
CERTIFICATION:
The information contained herein is true and correct to the best of my knowledge.
Bojan Savic, Executive Director