House Bill 930, sponsored by Towns, amends Tennessee Code Annotated, Title 13, Chapter 23, concerning the homebuyers revolving loan program. The bill introduces a new provision that allows any participating county that has made loans exceeding the initial capitalization amount of its loan fund pool to terminate its participation. This termination can be executed with notice to the Tennessee Housing Development Agency (THDA), and the county is permitted to retain all funds, including those used for initial capitalization and any interest earnings from repayments.

The bill reclassifies the existing language in Section 13-23-310 as subsection (a) and adds the new termination provision as subsection (b). The act is set to take effect on July 1, 2025, emphasizing the public welfare.

Statutes affected:
Introduced: 13-23-310