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TN HB0691
Bill
Status
5/27/2025
Primary Sponsor
Charlie Baum
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AI Summary
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Financial institutions receive a 3% annual tax credit on the month-end average unpaid principal balance of qualified loans made to eligible housing entities for the life of the loan or 15 years, whichever is earlier
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Financial institutions receive a 5% annual tax credit on qualified low-rate loans made to eligible housing entities for the life of the loan or 15 years, whichever is earlier
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Amends Tennessee Code Annotated Section 67-4-2109 governing tax credits for financial institutions that support housing activities
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Takes effect January 1, 2026, and applies to tax years beginning on or after that date
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Passed April 22, 2025 and signed by Governor Bill Lee on May 21, 2025
Legislative Description
AN ACT to amend Tennessee Code Annotated, Section 67-4-2109, relative to tax credits for financial institutions.
Taxes, Exemption and Credits
Last Action
Effective date(s) 01/01/2026
5/27/2025