AN ACT to amend Tennessee Code Annotated, Title 47, relative to mortgage interest rates.

What it does

The legislature's own summary of the bill, or its official long title.

Interest Rates - As introduced, changes the definition of a "home loan" to a closed-end loan with a term of at least 241 months; removes existing variable limits on the maximum effective rate of annual interest on home loans of no higher than two points greater than the rate established by the FNMA auction or four points greater than the 30-year treasury bond market yield index, leaving the maximum rate of interest per annum for home loans that may be charged at a fixed 18 percent limit. - Amends TCA Title 47.

Every action

6 steps, oldest first, as the legislature records them.

1. Jan 31, 2024SenateFiled for introduction
2. Feb 1, 2024SenateIntroduced, Passed on First Consideration
3. Feb 5, 2024CommitteePassed on Second Consideration, refer to Senate Commerce and Labor Committee · Senate Commerce and Labor Committee
4. Mar 6, 2024CommitteePlaced on Senate Commerce and Labor Committee calendar for 3/12/2024 · Senate Commerce and Labor Committee
5. Mar 8, 2024CommitteePlaced on Senate Commerce and Labor Committee calendar for 3/12/2024 · Senate Commerce and Labor Committee
6. Mar 12, 2024SenateAssigned to General Subcommittee of Senate Commerce and Labor Committee

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

• SS Steve SoutherlandR Primary sponsor · District 9