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SB 977

Financial Institutions, Dept. of - As introduced, reduces from 60 to 45 days, the time period following the end of each calendar year during which the commissioner must annually report to the governor. - Amends TCA Title 45.

114th Regular Session (2025-2026) Introduced by Steve Southerland

Shortens Tennessee's financial institutions commissioner annual report deadline to the governor from 60 to 45 days after each year ends.

Passed on Second Consideration, refer to Senate Commerce and Labor Committee
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Bill Summary · SB 977

Legislative bill overview

SB 977 shortens the deadline for Tennessee's Department of Financial Institutions commissioner to submit an annual report to the governor from 60 days to 45 days after each calendar year ends. This is a technical amendment to Tennessee Code Annotated Title 45 with minimal substantive policy changes.

Why is this important

While procedural, this change affects government transparency and accountability timelines. Faster reporting could enable quicker gubernatorial review of departmental activities and regulatory matters, though the 15-day reduction is relatively modest in the broader context of annual reporting cycles.

Potential points of contention

  • Administrative feasibility: Whether 45 days provides sufficient time for the commissioner to compile, review, and finalize a comprehensive annual report without sacrificing accuracy or completeness
  • Stakeholder coordination: If the report requires input from multiple divisions or external entities, the tighter deadline could create implementation challenges
  • Minimal justification: The bill's fiscal notes and supporting materials do not explicitly explain the rationale for accelerating the timeline, leaving unclear whether this addresses a specific problem or bottleneck

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

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