Tennessee · 114
SB 749
Interest Rates - As enacted, removes the weighted average yield of the accepted offers of the Federal National Mortgage Association's current free market system auction and the 30-year treasury yield as the two bases upon which the maximum effective rate of interest on home loans may be set by the commissioner of financial institutions, and replaces them with the average prime offer rate. - Amends TCA Title 45 and Title 47.
Bill record: Open States bulk CSV (bills/votes) CC0-1.0
Summary AI-generated
Tennessee SB 749 amends TCA Titles 45 and 47 to change how the commissioner of financial institutions sets the maximum effective interest rate on home loans. The bill removes the weighted average yield of Federal National Mortgage Association auction offers and the 30-year treasury yield as calculation bases. These are replaced with the average prime offer rate.
Software-generated, grounded only in the bill's own fields (it does not invent outcomes, amounts, or dates). Provenance: Open States bulk CSV (bills/votes) CC0-1.0 GovTally LLM enrichment (local oMLX)
Issue tags AI-classified
Classified by a local model from the bill's text; confidence shown. GovTally LLM enrichment (local oMLX)
Sponsors
- Ken Yager Republican lead
Roll-call votes on this bill
| Question | Chamber | Result | Yea | Nay | Other | Date | Source |
|---|---|---|---|---|---|---|---|
| SENATE COMMERCE AND LABOR COMMITTEE: Recommended for passage, refer to Senate… | upper | pass | 0 | 0 | 1 | Mar 11, 2025 | Open States bulk CSV (bills/votes) CC0-1.0 |