HB1945 - Tennessee: Scholarships And Financial Aid, Tennessee Student Assistance Corporation

Scholarships and Financial Aid - Creates the "Tennessee student assistance program account" in the state treasury for the deposit of funds appropriated for Tennessee student assistance awards; provides that earnings on the account are credited to the account and that moneys in the account do not revert to the state general fund at the end of any fiscal year. - Amends TCA Title 49, Chapter 4.

(Corrected) Other Fiscal Impact - Beginning in FY07-08, unexpended appropriations in the Tennessee Student Assistance Program will not revert to the general fund. This amount is estimated to be approximately $1.4 million for FY07-08 which will be retained by TSAC and not available to assist in the statewide reversion of funds for the $76.6 million overappropriation.