TN HB0955

Local governments may adopt rent control ordinances by two-thirds vote of their legislative body, including establishing maximum rents and rental application fees, after determining local housing supply conditions and establishing a local rent agency to administer the regulations

Local governments retain authority to create voluntary incentive-based programs for workforce and affordable housing, including tax incentives, subsidies, and infrastructure assistance for private commercial rental units

Creates the "Increased Housing Program" administered by the Tennessee Housing Development Agency (THDA) to provide gap financing for developers building single-family and multi-family homes, and down payment/closing cost grants for first-time homebuyers

Program preference given to applicants in communities that experienced a federally declared disaster within the preceding 12 months; participants are ineligible for the Tennessee rural and workforce housing tax credit

Establishes the "Increased Housing Revolving Fund" in the state treasury, with THDA permitted to use up to 5% for administrative costs and required to submit annual reports beginning January 1, 2026