HB 408

ON MARCH 17, 2025, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 689, AS AMENDED. AMENDMENT #1 rewrites the bill to, instead, make the following revision s to present law:  Removes the Tennessee student assistance corporation (TSAC) from being operated as a division within the Tennessee higher education commission (THEC).  Terminates the governing board of directors for TSAC on July 1, 2025, and, effective July 1, 2025, requires THEC, to serve as the governing board of directors for TSAC.  Requires THEC's review committee to aid in the development or revision of state financial aid.  Adds to the review committee's membership the president of the Tennessee Independent Colleges and Universities Association but only to serve on the committee for the development or revision of the higher education master plan and for state financial aid.  Terminates the Tennessee teaching scholars program on July 1, 2025, except for the purpose of TSAC administering the program requirements for all remaining outstanding loans.  Terminates the minority teaching fellows program on July 1, 2025, except for the purpose of TSAC administering the program requirements for all remaining outstanding loans. ON APRIL 3, 2025, THE HOUSE SUBSTITUTED SENATE BILL 689 FOR HOUSE BILL 408, ADOPTED AMENDMENT #1, AND PASSED SENATE BILL 689, AS AMENDED. AMENDMENT #1 fixes a cross-reference.