Senate Bill 2062, known as the "Promising Futures Act," seeks to improve child care access and support for working families in Tennessee by establishing the Promising Futures Fund. This fund will be financed through dedicated revenues from vapor products and hemp-derived cannabinoid products, rather than general fund revenues. The bill outlines funding for various pilot programs, including the Child Care Workforce Scholarship Pilot Program, which offers free child care for children of eligible child care workers, and the CareShare Tennessee Pilot Program, which provides employer-supported child care assistance, with a total of $5 million allocated for each program over three years. Additionally, the Smart Steps Plus program will offer child care scholarships to working families whose incomes exceed current assistance eligibility thresholds.

The bill also introduces new reporting and evaluation requirements for the programs administered by the department of human services, mandating annual reports that include financial summaries, performance data, participation statistics, and assessments of program effectiveness. Furthermore, it amends sections of the Tennessee Code Annotated regarding the allocation of revenues from fees and penalties, ensuring that excess revenues are redirected to the Promising Futures Fund rather than reverting to the general fund. The act is set to take effect on July 1, 2026.

Statutes affected:
Introduced: 57-7-106, 57-7-106(f), 57-7-108, 57-7-112, 57-7-113, 67-4-1025, 67-4-1034, 67-4-1035