TN SB2707 | 2023-2024 | 113th General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 31 2024 - 25% progression, died in committee
Action: 2024-03-12 - Assigned to General Subcommittee of Senate Commerce and Labor Committee
Pending: Senate Commerce and Labor Committee
Text: Latest bill text (Draft #1) [PDF]
Status: Introduced on January 31 2024 - 25% progression, died in committee
Action: 2024-03-12 - Assigned to General Subcommittee of Senate Commerce and Labor Committee
Pending: Senate Commerce and Labor Committee
Text: Latest bill text (Draft #1) [PDF]
Summary
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.
Title
AN ACT to amend Tennessee Code Annotated, Title 47, relative to mortgage interest rates.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-12 | Senate | Assigned to General Subcommittee of Senate Commerce and Labor Committee |
| 2024-03-08 | Senate | Placed on Senate Commerce and Labor Committee calendar for 3/12/2024 |
| 2024-03-06 | Senate | Placed on Senate Commerce and Labor Committee calendar for 3/12/2024 |
| 2024-02-05 | Senate | Passed on Second Consideration, refer to Senate Commerce and Labor Committee |
| 2024-02-01 | Senate | Introduced, Passed on First Consideration |
| 2024-01-31 | Senate | Filed for introduction |
Same As/Similar To
HB2092 (Crossfiled) 2024-03-19 - Taken off notice for cal in s/c Banking & Consumer Affairs Subcommittee of Commerce Committee
