KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Tennessee

SB0857 • 2026

Housing

AN ACT to amend Tennessee Code Annotated, Title 13, Chapter 23, relative to the homebuyers revolving loan program.

Housing
Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Taylor, White
Last action
2025-05-15
Official status
Effective date(s) 07/01/2025
Effective date
Not listed

Plain English Breakdown

Checked against official source text during the last sync.

Changes to Homebuyers Revolving Loan Program

This bill allows counties that have loaned more than their initial investment in a homebuyers' revolving loan fund to leave the program and keep all funds, including interest.

What This Bill Does

  • Allows counties with loans exceeding their initial funding to end their participation in the homebuyers' revolving loan program.
  • Requires these counties to notify THDA (Tennessee Housing Development Agency) before leaving the program.
  • Permits counties that leave the program to keep all funds, including those used for initial setup and interest earned.

Who It Names or Affects

  • Counties participating in the homebuyers' revolving loan fund pool
  • Homebuyers who might lose access to loans if their county leaves the program

Terms To Know

THDA
Tennessee Housing Development Agency, a state agency that oversees housing programs.
Revolving loan fund
A pool of money used to make loans and then replenished as those loans are paid back with interest.

Limits and Unknowns

  • The exact financial impact on the Homebuyers’ Revolving Loan Fund Pool or local governments is not clear.
  • This bill only affects counties that have loaned out more than their initial investment in the fund.

Bill History

  1. 2025-05-15 Tennessee General Assembly

    Effective date(s) 07/01/2025

  2. 2025-05-15 Tennessee General Assembly

    Pub. Ch. 442

  3. 2025-05-15 Tennessee General Assembly

    Comp. became Pub. Ch. 442

  4. 2025-05-09 Tennessee General Assembly

    Signed by Governor.

  5. 2025-05-01 Tennessee General Assembly

    Transmitted to Governor for action.

  6. 2025-04-30 Tennessee General Assembly

    Signed by H. Speaker

  7. 2025-04-29 Tennessee General Assembly

    Signed by Senate Speaker

  8. 2025-04-25 Tennessee General Assembly

    Enrolled and ready for signatures

  9. 2025-04-21 Tennessee General Assembly

    Passed H., Ayes 91, Nays 1, PNV 1

  10. 2025-04-21 Tennessee General Assembly

    Subst. for comp. HB.

  11. 2025-04-21 Tennessee General Assembly

    Comp. SB subst.

  12. 2025-04-17 Tennessee General Assembly

    H. Placed on Regular Calendar for 4/21/2025

  13. 2025-04-17 Tennessee General Assembly

    Placed on cal. Calendar & Rules Committee for 4/17/2025

  14. 2025-04-17 Tennessee General Assembly

    Rec. for pass; ref to Calendar & Rules Committee

  15. 2025-04-17 Tennessee General Assembly

    Rec. for pass by s/c ref. to Finance, Ways, and Means Committee

  16. 2025-04-16 Tennessee General Assembly

    Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/17/2025

  17. 2025-04-09 Tennessee General Assembly

    Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025

  18. 2025-04-09 Tennessee General Assembly

    Placed behind the budget

  19. 2025-04-02 Tennessee General Assembly

    Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/9/2025

  20. 2025-04-02 Tennessee General Assembly

    Assigned to s/c Finance, Ways, and Means Subcommittee

  21. 2025-04-02 Tennessee General Assembly

    Rec. for pass; ref to Finance, Ways, and Means Committee

  22. 2025-03-31 Tennessee General Assembly

    Rcvd. from S., held on H. desk.

  23. 2025-03-27 Tennessee General Assembly

    Engrossed; ready for transmission to House

  24. 2025-03-27 Tennessee General Assembly

    Passed Senate, Ayes 27, Nays 0

  25. 2025-03-26 Tennessee General Assembly

    Placed on cal. State & Local Government Committee for 4/2/2025

  26. 2025-03-26 Tennessee General Assembly

    Action def. in State & Local Government Committee to 4/2/2025

  27. 2025-03-25 Tennessee General Assembly

    Placed on Senate Consent Calendar 2 for 3/27/2025

  28. 2025-03-24 Tennessee General Assembly

    Recommended for passage, refer to Senate Calendar Committee

  29. 2025-03-19 Tennessee General Assembly

    Placed on Senate Judiciary Committee calendar for 3/24/2025

  30. 2025-03-19 Tennessee General Assembly

    Placed on cal. State & Local Government Committee for 3/26/2025

  31. 2025-03-19 Tennessee General Assembly

    Rec. for pass by s/c ref. to State & Local Government Committee

  32. 2025-03-13 Tennessee General Assembly

    Sponsor withdrawn.

  33. 2025-03-12 Tennessee General Assembly

    Placed on s/c cal Cities & Counties Subcommittee for 3/19/2025

  34. 2025-03-12 Tennessee General Assembly

    Sponsor(s) Added.

  35. 2025-02-12 Tennessee General Assembly

    Passed on Second Consideration, refer to Senate Judiciary Committee

  36. 2025-02-10 Tennessee General Assembly

    Introduced, Passed on First Consideration

  37. 2025-02-06 Tennessee General Assembly

    Assigned to s/c Cities & Counties Subcommittee

  38. 2025-02-06 Tennessee General Assembly

    P2C, ref. to State & Local Government Committee

  39. 2025-02-05 Tennessee General Assembly

    Filed for introduction

  40. 2025-02-05 Tennessee General Assembly

    Intro., P1C.

  41. 2025-02-04 Tennessee General Assembly

    Filed for introduction

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

Read the full stored bill text 
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.