| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | HOUSE BILL 691 | |
| 3 | 3 | By Baum | |
| 4 | 4 | ||
| 5 | 5 | SENATE BILL 784 | |
| 6 | 6 | By Walley | |
| 7 | 7 | ||
| 8 | 8 | ||
| 9 | 9 | SB0784 | |
| 10 | 10 | 002403 | |
| 11 | 11 | - 1 - | |
| 12 | 12 | ||
| 13 | 13 | AN ACT to amend Tennessee Code Annotated, Section | |
| 14 | 14 | 67-4-2109, relative to tax credits for financial | |
| 15 | 15 | institutions. | |
| 16 | 16 | ||
| 17 | 17 | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: | |
| 18 | 18 | SECTION 1. Tennessee Code Annotated, Section 67-4-2109(h)(1)(B), is amended by | |
| 19 | 19 | deleting the subdivision and substituting instead: | |
| 20 | 20 | (B) Three percent (3%) annually of the month-end average unpaid principal | |
| 21 | 21 | balance of a qualified loan made to an eligible housing entity for any eligible activity for | |
| 22 | 22 | the financial institution's fiscal year life of the loan or fifteen (15) years, whichever is | |
| 23 | 23 | earlier. | |
| 24 | 24 | SECTION 2. Tennessee Code Annotated, Section 67-4-2109(h)(2)(B), is amended by | |
| 25 | 25 | deleting the subdivision and substituting instead: | |
| 26 | 26 | (B) Five percent (5%) annually of the month-end average unpaid principal | |
| 27 | 27 | balance of a qualified low-rate loan made to an eligible housing entity for any eligible | |
| 28 | 28 | activity for the financial institution's fiscal year life of the loan or fifteen (15) years, | |
| 29 | 29 | whichever is earlier. | |
| 30 | 30 | SECTION 3. This act takes effect July 1, 2025, the public welfare requiring it. |