House Bill 930 amends Tennessee Code Annotated, specifically Section 13-23-310, to introduce a new provision regarding the homebuyers revolving loan program. The bill redesignates the existing language as subsection (a) and adds a new subsection (b), which 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 occur with notice to the Tennessee Housing Development Agency (THDA), and the county may retain all funds, including those used for initial capitalization and interest earnings on repayments.

The bill 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 in managing their loan programs and financial resources.

Statutes affected:
Introduced: 13-23-310