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HB 820

Banks and Financial Institutions - As introduced, reduces, from 60 days to 45 days, the time within which, after the end of the calendar year, the commissioner of financial institutions must submit the department's annual report to the governor. - Amends TCA Title 45.

114th Regular Session (2025-2026) Introduced by Johnny Garrett

Tennessee bill accelerates financial institutions' annual reporting deadline to governor from 60 to 45 days after year-end, potentially reducing preparation time without clear justification.

P2C, caption bill, held on desk - pending amdt.
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Bill Summary · HB 820

Legislative bill overview

HB 820 shortens the deadline for Tennessee's Department of Financial Institutions to submit its annual report to the governor from 60 days to 45 days after the calendar year ends. This is a procedural amendment to Title 45 of the Tennessee Code that accelerates the reporting timeline by 15 days.

Why is this important

Faster reporting could enable the governor and legislature to more quickly review the state's financial institution oversight activities and identify emerging regulatory issues. However, the practical impact depends on whether the department currently struggles to meet the 60-day deadline or if this simply tightens an already-comfortable timeline.

Potential points of contention

  • Implementation burden: The Department of Financial Institutions may lack sufficient time to compile comprehensive annual data, audit findings, and analysis in the compressed 45-day window, potentially reducing report quality or accuracy
  • Resource requirements: Meeting an accelerated deadline could require additional staffing or overtime costs, which may not be budgeted or justified
  • Unclear justification: The bill provides no stated rationale for the 15-day reduction, raising questions about whether this addresses a genuine problem or is merely procedural streamlining

Compiled from official sources — confirm details with the bill’s official record.

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