House Bill 528 amends the Tennessee Code Annotated regarding the premium fees associated with pretrial release bonds. The bill modifies the existing regulations by establishing that the premium fee for a bond must be no less than five percent (5%) and no more than ten percent (10%) of the bond's face value. For instance, if a bond is set at $2,500, the premium would range from a minimum of $125 to a maximum of $250. This change is reflected in the amendments to Section 40-11-151 and Section 40-11-316(a) of the Tennessee Code.

Additionally, the bill updates Section 40-11-316(c) to specify that the premium can be no less than five percent (5%) and no more than fifteen percent (15%) of the bond's face value. These adjustments aim to provide clearer guidelines for bond premiums, ensuring that they remain within a defined range. The act is set to take effect on July 1, 2025, contingent upon the public welfare.

Statutes affected:
Introduced: 40-11-151, 40-11-316(a), 40-11-316, 40-11-316(c)