House Bill 2973, also known as Senate Bill 2942, outlines the appropriations for the state government of Tennessee for the fiscal years beginning July 1, 2023, and July 1, 2024. The bill details funding allocations across various branches of government, including the legislative, executive, and judicial branches, as well as for state aid, capital outlay, public debt service, and emergency contingencies. It includes provisions for repealing certain appropriations that conflict with the new allocations and establishes limitations on how these funds may be used. Notably, the bill allocates significant funding for education, with over $7.3 billion designated for the Department of Education, and also emphasizes support for public safety, health services, and infrastructure improvements.

Additionally, the bill introduces provisions for the management of state funds, including the establishment of a Capital Projects Account within the Strategic Technology Solutions program and guidelines for the allocation of funds from various revenue sources. It mandates that unexpended funds from previous appropriations be carried forward to ensure continued support for essential services. The bill also addresses salary increases for state employees and outlines specific funding for educational scholarships and healthcare programs, including the TennCare Program. Overall, the bill aims to ensure effective resource allocation while enhancing the operational capabilities of state departments and addressing the needs of Tennessee residents.