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SB0749Introduced in the Senate

AN ACT to amend Tennessee Code Annotated, Title 45 and Title 47, relative to interest on home loans.

Passed

Introduced by Ken Yager, District 12

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

Comp. became Pub. Ch. 290

April 28, 2025

How did lawmakers vote?

SenateStage: SENATE COMMERCE AND LABOR COMMITTEE: Recommended for passage, refer to Senate Calendar Committee · March 11, 2025

7

Yes

0

No

1

Absent or Not Voting

8 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

SenatorDistrictVote
Steve Southerland9Yes
Bo Watson11Yes
Ken Yager12Yes
Shane Reeves14Yes
Paul Bailey15Yes
John Stevens24Yes
Jack Johnson27Yes
Raumesh Akbari29Not Voting

Bill history

  1. Filed for introduction

  2. Introduced, Passed on First Consideration

  3. Passed on Second Consideration, refer to Senate Commerce and Labor Committee

  4. Placed on Senate Commerce and Labor Committee calendar for 2/25/2025

  5. Action deferred in Senate Commerce and Labor Committee to 3/4/2025

  6. Placed on Senate Commerce and Labor Committee calendar for 3/4/2025

  7. Placed on Senate Commerce and Labor Committee calendar for 3/4/2025

  8. Action deferred in Senate Commerce & Labor Committee to 3/11/2025

  9. Placed on Senate Commerce and Labor Committee calendar for 3/11/2025

  10. Recommended for passage, refer to Senate Calendar Committee

  11. Placed on Senate Regular Calendar for 3/17/2025

  12. Companion House Bill substituted

  13. Comp. became Pub. Ch. 290

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