TBA Law Blog


Posted by: Stacey Shrader Joslin on Apr 24, 2023

Before adjourning, the General Assembly passed a $56.2 billion state budget for the 2024 fiscal year, the largest in state history. The budget includes $75 million for e-filing in the state court system, a $250 million investment in the state’s Rainy Day Fund, $3.3 billion for the governor’s infrastructure plan, $288 million for state parks and natural areas, $200 million to relocate the Tennessee Performing Arts Center, and $350 million for the city of Memphis to renovate FedExForum and Liberty Stadium. For education, the budget includes a $1.1 billion increase for the state’s education funding formula, adding $125 million for teacher salary raises and $147 million to fund school resource officers in public and private schools. Finally, the budget includes $45.8 million in business tax cuts (including a $37.8 million excise tax reduction) and $288 million for elimination of the sales tax on groceries in August, September and October. Read the full budget (HB1545/SB1532) as passed with amendments 2, 3, 8 and 10.