Senate Bill 603 amends Tennessee Code Annotated, Title 49, to enhance accountability for scholarship programs administered by the corporation. A new subsection (j) is added to Section 49-4-704, which mandates that the corporation submit an annual report to the education committees of both the Senate and the House of Representatives. This report must detail key metrics from the previous five academic years, including the amount appropriated by the General Assembly for the scholarship program, the total number of applications received, the number of scholarship recipients, and the average award amount. The first report is due by July 31, 2025, and subsequent reports are required annually by the same date.

The bill emphasizes transparency and oversight in the management of scholarship funds, ensuring that lawmakers have access to important data regarding the effectiveness and reach of the scholarship program. The act is set to take effect upon becoming law, highlighting its urgency in promoting public welfare.

Statutes affected:
Introduced: 49-4-704