House Bill 930 amends Tennessee Code Annotated, Title 13, Chapter 23, concerning the homebuyers revolving loan program. The bill redesignates the existing language in Section 13-23-310 as subsection (a) and introduces a new subsection (b). This new provision allows any participating county that has made loans exceeding the initial capitalization amount of its loan fund pool to terminate its participation in the program. The county must provide notice to the Tennessee Housing Development Agency (THDA) and is permitted to retain all funds, including those used for initial capitalization and interest earnings from repayments.

The act is set to take effect on July 1, 2025, emphasizing the importance of the public welfare in its implementation. This change aims to provide counties with greater flexibility regarding their participation in the homebuyers revolving loan program, particularly in managing their financial resources.

Statutes affected:
Introduced: 13-23-310