Interest Rates - As introduced, changes the definition of a "home loan" to a closed-end loan with a term of at least 241 months; removes existing variable limits on the maximum effective rate of annual interest on home loans of no higher than two points greater than the rate established by the FNMA auction or four points greater than the 30-year treasury bond market yield index, leaving the maximum rate of interest per annum for home loans that may be charged at a fixed 18 percent limit. - Amends TCA Title 47.
Bill status
passed
3 of 5 stages cleared
Introduction
Feb 2024
Committee Review
Mar 2024
Senate Passage
Feb 2024
House Passage
Governor
Introduced Feb 1, 2024
Last action Mar 12, 2024
Floor votes
How they voted
This bill passed the Senate. No roll call record of that vote is available.
Full legislative history
Actions timeline
Total actions
6
Key actions
3
Committee
3
Mar 12, 2024
Committee
Assigned to General Subcommittee of Senate Commerce and Labor Committee
upper
Mar 8, 2024
Upper · Passed
Placed on Senate Commerce and Labor Committee calendar for 3/12/2024
upper
Mar 6, 2024
Upper · Passed
Placed on Senate Commerce and Labor Committee calendar for 3/12/2024
upper
Feb 5, 2024
Upper · Passed
Passed on Second Consideration, refer to Senate Commerce and Labor Committee
upper
Feb 1, 2024
Introduced
Introduced, Passed on First Consideration
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Steve Southerland
RRepublican
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