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HB 669

Scholarships and Financial Aid - As introduced, extends from March 1 to March 30, the date by which not-for-profit corporations and associations that administer an educational cooperative plan or scholarship plan must file a statement of financial condition with the commissioner of commerce and insurance. - Amends TCA Title 49, Chapter 4.

114th Regular Session (2025-2026) Introduced by Paul Sherrell

HB 669 delays nonprofit scholarship plan financial reporting deadline from March 1 to March 30 in Tennessee.

P2C, caption bill, held on desk - pending amdt.
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Bill Summary · HB 669

Legislative bill overview

HB 669 extends the filing deadline for not-for-profit organizations administering educational scholarship and cooperative plans from March 1 to March 30 with the Tennessee Commissioner of Commerce and Insurance. This is a narrow technical amendment to state financial reporting requirements under Tennessee Code Annotated Title 49, Chapter 4.

Why is this important

The deadline extension provides educational nonprofits an additional 29 days to compile and submit annual financial condition statements, potentially reducing administrative burden and compliance pressures during the early spring period when many organizations manage year-end financial reconciliations.

Potential points of contention

  • Regulatory oversight concerns: Extending the deadline may slightly delay the state's ability to monitor financial health of scholarship administrators, though the one-month extension is modest
  • Scope ambiguity: The bill language could be clearer about which specific cooperative and scholarship plans are covered, potentially creating interpretation issues
  • Competitive fairness: If this deadline applies to some nonprofits but not others in the education financing sector, it could create unequal compliance requirements

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

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