Gov. Lee delivers fifth State of State
Gov. Bill Lee delivered his fifth State of the State address and presented budget and legislative priorities for the upcoming year to a joint session of the General Assembly on Feb. 6.
Lee’s proposed $55.6 billion budget includes major funding for transportation, K-12 education, public safety, and the creation three additional state parks.
Key highlights include:
Transportation & Infrastructure Funding
- $3B to alleviate urban congestion and fund rural road projects across the state
- $300M added to the State Aid Road Program for local road projects
- $350M - including $125 million for teacher pay raise
- $952M - updates existing TCAT facilities and creates new buildings and additions for state-wide facilities
Law & Safety
- $33.25M to adds 100 state troopers and related supervisory staff as well as 25 forensic services staff to improve public safety
- $50M – Violent Crime Intervention Fund expansion which expands grant funding to local communities and provides new support for local jails and sheriffs through new training programs
- $328 .7M to improves accessibility to state parks, upgrade existing outdoor spaces, and create three new state parks across Tennessee
- • $412 Million for tax cuts including $288.3M for a one-time three-month sales tax holiday on food from August 1 to October 31, 2023
Rainy Day Fund
- $250M to the state’s Rainy-Day Fund, taking the total to more than $1.8 Billion.
Key highlights and the full speech can be found here.
A Fiscal Year 2023-24 budget overview can be found here.