HOUSE BILL 930
By Towns
SENATE BILL 857
By Taylor
SB0857
003004
- 1 -
AN ACT to amend Tennessee Code Annotated, Title 13,
Chapter 23, relative to the homebuyers revolving
loan program.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 13-23-310, is amended by
redesignating the existing language as subsection (a) and adding the following as a new
subsection (b):
Any participating county having made loans in excess of the amount of funds in
the initial capitalization of the loan fund pool for the county may terminate its participation
with notice to THDA and may retain all funds, including any funds used for initial
capitalization or interest earnings on repayments.
SECTION 2. This act takes effect July 1, 2025, the public welfare requiring it.