Pensions and Retirement Benefits - As enacted, enacts the "Tennessee Trump Account Program Act." - Amends TCA Title 4; Title 8; Title 9 and Title 50. HB1447 has been assigned Public Chapter Number 910 by the Secretary of, the official text

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                     ~tate of ~ennessee

                         PUBLIC CHAPTER NO. 910

                                                  HOUSE BILL NO. 1447

         By Representatives Baum, McCalmon, Vital, Sparks, Reeves, Maberry, White

                                       Substituted for: Senate Bill No. 2397

                                                     By Senator Yarbro

         AN ACT to amend Tennessee Code Annotated, Title 4; Title 8; Title 9 and Title 50,
relative to retirement.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

          SECTION 1. Tennessee Code Annotated, Title 9, Chapter 4, is amended by adding the
following as a new part:

          9-4-1601.

                    This part is known and may be cited as the "Tennessee Trump Account Program
          Act".

          9-4-1602.

                    As used in this part, unless the context otherwise requires:

                              (1) "Federal law" means federal law, as amended, and all rules,
                    regulations, notices, guidance, and interpretations released by the United States
                    department of the treasury, including the internal revenue service.

                              (2) "State" means the state of Tennessee; and

                              (3) "Trump account" means an account established in accordance with §
                    530A of the Internal Revenue Code (26 U.S.C. § 530A), as amended, other
                    applicable provisions in the code, and all rules, regulations, notices, guidance
                    and interpretations released by the United States department of the treasury,
                    including the internal revenue service.

          9-4-1603.

                    Notwithstanding any law to the contrary and subject to the approval of the United
          States department of the treasury, the state may act as a nonbank custodian pursuant to
          26 CFR § 1.408-2(e) for Trump account funds, subject to requirements in federal law. If
          the state receives the approval to act as a nonbank custodian pursuant to 26 CFR §
          1.408-2(e), then a Trump account program may be established through a subsequent
          enactment of the general assembly.

          SECTION 2. This act takes effect upon becoming a law, the public welfare requiring it.
         HOUSE BILL NO. 1447

PASSED:  April 13, 2026

                              CAMERON.6EXTON,SPEAKER
                              HOUSE OF REPRESENTATIVES

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                                                                           RANDY MCI'

                                                                           SPEAKER OF THE SE

APPROVED this /-!,t day of ~ . .                                           2026

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BILL LEE, GOVERNOR