Senate Bill 1723 proposes significant changes to the governance structure of the Tennessee Education Lottery Corporation (TELC) by establishing a new board of directors. The bill vacates the current board on July 1, 2026, and creates a new board consisting of nine directors, with three appointed by the governor, three by the speaker of the Senate, and three by the speaker of the House of Representatives. The new board is tasked with ensuring diversity in professional expertise, geography, and demographic representation. Directors will serve staggered terms of two, three, or four years, and will continue to serve until a replacement is appointed. The bill also outlines the powers and responsibilities of the board, including the election of officers and the requirement for a quorum.

Additionally, the bill amends provisions related to public records and meetings, ensuring that information regarding the hiring and performance of the chief executive officer of the corporation is publicly accessible, while maintaining confidentiality for personally identifying information. It also clarifies that the TELC remains an independent entity, not subject to oversight by any state department or agency, except as specified by law. The act will take effect upon becoming law for administrative purposes, while the new governance structure will be implemented on July 1, 2026.

Statutes affected:
Introduced: 4-51-103, 4-51-124, 4-29-251(a), 4-29-251