Senate Bill 129, also known as House Bill 331, amends Tennessee Code Annotated, Section 13-23-121, which governs the Tennessee Housing Development Agency (THDA). The bill increases the cap on the aggregate principal amount of THDA's 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 aimed at assisting low and moderate-income residents in Tennessee.

The legislation reflects the General Assembly's recognition of the increased need for affordable housing financing since 2008, while ensuring that THDA can continue to prudently manage its financial resources. The bill is set to take effect immediately upon becoming law, emphasizing the urgency of addressing housing needs in the state.

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