Senate Bill 1723 aims to amend the governance structure of the Tennessee Education Lottery Corporation (TELC) by establishing a new board of directors. The bill proposes that, effective July 1, 2026, the current board will be vacated and replaced with a new board consisting of nine directors. These directors will be appointed equally by the governor, the speaker of the Senate, and the speaker of the House of Representatives. The new board is tasked with ensuring diversity in professional expertise, geography, and demographic representation. The bill also outlines the terms of service for the directors, stipulating that they will serve staggered terms of two, three, and four years, with subsequent terms lasting four years.

Additionally, the bill modifies public record requirements related to the hiring and employment of the corporation's chief executive officer, ensuring that while certain information remains public, personally identifying details will be kept confidential. It also clarifies that the TELC will continue to operate as an independent entity, not subject to oversight by any state department or agency, except as specified by law. The act will take effect immediately 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