Tennessee General Assembly· SB 2151Companion House Bill substituted

Taxes, Exemption and Credits - As enacted, revises law relative to a financial institution applying for a credit against the sum total of the taxes imposed by the Franchise Tax law and by the Excise Tax law. - Amends TCA, the official text

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                        ~tate of ~ennessee

                         PUBLIC CHAPTER NO. 1009

                                                  HOUSE BILL NO. 2156

                                         By Representatives Baum, Sparks

                                       Substituted for: Senate Bill No. 2151

                                                     By Senator Walley

         AN ACT to amend Tennessee Code Annotated, Title 67, relative to tax credits.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

          SECTION 1. Tennessee Code Annotated, Section 67-4-2109(k)(1)(B), is amended by
deleting the subdivision and substituting instead:

                    (B) Three percent (3%) annually of the month-end average unpaid principal
          balance of a qualified loan made to a community development financial institution that is
          certified by the United States department of the treasury's community development
         financial institutions fund for the financial institution's fiscal year for the life of the loan or
         fifteen (15) years, whichever is earlier.

          SECTION 2. Tennessee Code Annotated, Section 67-4-2109(k)(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 a community development financial
          institution that is certified by the United States department of the treasury's community
          development financial institutions fund for the financial institution's fiscal year for the life
          of the loan or fifteen (15) years, whichever is earlier.

          SECTION 3. This act takes effect January 1, 2027, the public welfare requiring it, and
applies to tax years beginning on or after that date.
               HOUSE BILL NO. 2156

PASSED:  April 22, 2026

                         C:~

                          CAMERON SEXTON, SPEAKER
                         HOUSE OF REPRESENTATIVES

                                                             RANDY MCNALLY
                                                SP'=AKER OF THE SENATE

APPROVED this  \"}tjl day of ~ /                2026
                                             0

     ~~.

BILL LEE, GOVERNOR

Every fact on this page links to its source, starting with the official bill record.