Amends TCA Title 13, Chapter 23.
Tennessee SB0857 allows counties that have issued loans exceeding their initial loan fund capitalization to withdraw from the homebuyers' revolving loan fund pool. This bill affects counties participating in the fund and enables them to retain all funds, including those used for initial capitalization and interest earnings from repayments. Key provisions include the requirement for counties to provide notice to the Tennessee Housing Development Agency before terminating their participation.
Tennessee SB0857 allows counties that have issued loans exceeding their initial loan fund capitalization to withdraw from the homebuyers' revolving loan fund pool. This bill affects counties participating in the fund and enables them to retain all funds, including those used for initial capitalization and interest earnings from repayments. Key provisions include the requirement for counties to provide notice to the Tennessee Housing Development Agency before terminating their participation.
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