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TN SB0784
Bill
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, available for the life of the loan or 15 years, whichever is earlier
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Qualified low-rate loans to eligible housing entities earn a higher 5% annual tax credit on the month-end average unpaid principal balance, also capped at the loan's life or 15 years
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Amends Tennessee Code Annotated Section 67-4-2109 governing tax credits for financial institutions engaged in housing-related lending
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Takes effect January 1, 2026, applying 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
Comp. became Pub. Ch. 496
5/27/2025