Shown verbatim: the complete text as captured from the official PDF posted by the Tennessee General Assembly, fetched 2026-09-25. Page and line markers are part of the official record; nothing is edited or removed. This is the chaptered version. The official bill page.
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~tate of utennessee
PUBLIC CHAPTER NO. 496
HOUSE BILL NO. 691
By Representatives Baum, Bricken, Powers
Substituted for: Senate Bill No. 784
By Senator Walley
AN ACT to amend Tennessee Code Annotated, Section 67-4-2109, relative to tax
credits for financial institutions.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 67-4-2109(h)(1 )(B), is amended by
deleting the subdivision and substituting instead:
(8) Three percent (3%) annually of the month-end average unpaid principal
balance of a qualified loan made to an eligible housing entity for any eligible activity for
the financial institution's fiscal year life of the loan or fifteen (15) years, whichever is
earlier.
SECTION 2. Tennessee Code Annotated, Section 67-4-2109(h)(2)(B), is amended by
deleting the subdivision and substituting instead:
(B) Five percent (5%) annually of the month-end average unpaid principal
balance of a qualified low-rate loan made to an eligible housing entity for any eligible
activity for the financial institution's fiscal year life of the loan or fifteen (15) years,
whichever is earlier.
SECTION 3. This act takes effect January 1, 2026, the public welfare requiring it, and
applies to tax years beginning on or after that date.
HOUSE BILL NO. 691
PASSED: April 22, 2025
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CAMERON SEXTON, SPEAKER
HOUSE OF REPRESENTATIVES
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,--~RANDY MCNAL~Y
SPEAKER OF THE SENA, t
APPROVED this ~ /4S+ day of Y'Vhe:V'\ 2025
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