Public Funds and Financing - As enacted, requires the trust principal of the K-12 mental health endowment account to be reduced by $75,000,000 in the fiscal year ending June 30, 2024, and reallocated to the trust's K-12 mental health special reserve account. - Amends TCA Title 49, Chapter 3, Part 5.

This law moves $75 million from the K-12 mental health endowment account to a special reserve account for the fiscal year ending in June 2024. The change affects how funds within the state's mental health trust are managed by shifting a specific portion of the principal into a separate reserve. While the department of mental health and substance abuse services must still submit a spending plan, the law clarifies that the trustees cannot decide how the money in this new reserve is spent. The act also updates the legal code to remove language referring to funds remaining in the trust.