Education, Higher - As introduced, creates the public institution athletic program fund, which consists of proceeds from a fee paid by vendors registered with the sports wagering council; authorizes the Tennessee higher education commission to award grants from the fund to public institutions to assist with expenses for recruiting intercollegiate athletes. - Amends TCA Title 4, Chapter 49; Title 9 and Title 49.

SB 1662 creates a new fund to support public university athletics by collecting a 25% fee from sports wagering vendors (paid to the Tennessee Sports Wagering Council) and depositing it into a dedicated account. The Tennessee Higher Education Commission will award grants from this fund exclusively to eligible public four-year universities competing in at least three intercollegiate sports, to cover recruiting costs like travel, lodging, and materials for athletes. It excludes institutions governed by the Board of Regents and requires the Commission to prioritize grants for six locally governed state universities. Unspent funds carry forward annually, and the Commission must report annually on grant distribution and impact.