Senate Bill 129 aims to amend Tennessee Code Annotated, Section 13-23-121, by increasing the cap on the aggregate principal amount of the Tennessee Housing Development Agency's (THDA) outstanding bonds and notes from $4 billion to $6 billion. This change is intended to provide THDA with greater flexibility to meet the growing demand for below-market interest rate loans that assist low and moderate-income residents in Tennessee.

The bill reflects the General Assembly's recognition of the increased need for affordable housing financing since 2008, while also acknowledging THDA's prudent management of its resources within the existing statutory limit. The proposed amendment is designed to enhance THDA's capacity to support more Tennesseans in need of housing assistance. The act will take effect upon becoming law.

Statutes affected:
Introduced: 13-23-121(a), 13-23-121