HB0908Introduced in the House
AN ACT to amend Tennessee Code Annotated, Title 45 and Title 47, relative to interest on home loans.
Introduced by Johnny Garrett, District 45
What does this bill do?
Plain-English breakdown
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Official description
As enacted, removes the weighted average yield of the accepted offers of the Federal National Mortgage Association's current free market system auction and the 30-year treasury yield as the two bases upon which the maximum effective rate of interest on home loans may be set by the commissioner of financial institutions, and replaces them with the average prime offer rate. - Amends TCA Title 45 and Title 47.
Where it stands
Effective date(s) 07/01/2025
April 28, 2025
How did lawmakers vote?
House votes
4 recorded votes · each counted separately
Senate votes
1 recorded vote · each counted separately
SenateStage: FLOOR VOTE: Third Consideration · April 7, 2025
24
Yes
5
No
1
Absent or Not Voting
30 senators recorded in this Senate vote. Colors show vote categories only, not whether a vote was good or bad.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
See how each senator voted
| Senator | District | Vote |
|---|---|---|
| Adam Lowe | 1 | Yes |
| Tom Hatcher | 2 | Yes |
| Robert Harshbarger | 4 | Yes |
| Randy McNally | 5 | Yes |
| Becky Massey | 6 | Yes |
| Richard Briggs | 7 | Yes |
| Jessie Seal | 8 | Yes |
| Todd Gardenhire | 10 | Yes |
| Bo Watson | 11 | Yes |
| Ken Yager | 12 | Yes |
Bill history
Filed for introduction
Intro., P1C.
P2C, ref. to Commerce Committee
Assigned to s/c Banking & Consumer Affairs Subcommittee
Placed on s/c cal Banking & Consumer Affairs Subcommittee for 2/19/2025
Rec. for pass by s/c ref. to Commerce Committee
Placed on cal. Commerce Committee for 2/26/2025
Rec. for pass; ref to Calendar & Rules Committee
Placed on cal. Calendar & Rules Committee for 2/27/2025
H. Placed on Consent Calendar for 3/3/2025
Passed H., Ayes 90, Nays 0, PNV 0
Engrossed; ready for transmission to Sen.
Received from House, Passed on First Consideration
Senate substituted House Bill for companion Senate Bill.
Senate Reset on calendar for 3/20/2025
Placed on Senate Regular Calendar for 3/20/2025
Senate Reset on calendar for 4/7/2025
Placed on Senate Regular Calendar for 4/7/2025
Passed Senate, Ayes 24, Nays 5, PNV 1
Enrolled; ready for sig. of H. Speaker.
Signed by H. Speaker
Signed by Senate Speaker
Transmitted to Governor for his action.
Signed by Governor.
Pub. Ch. 290
Effective date(s) 07/01/2025
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