Tennessee · 114th Regular Session (2025-2026) · Bill

HB 775: Interest Rates - As enacted, increases, from 30 to 36 percent per annum, the maximum permitted effective rate of interest that may be contracted for by an industrial loan and thrift company on an unpaid balance where the amount financed is $100 or more; makes other related changes. - Amends TCA Title 45, Chapter 5.

In committee Last action April 8, 2025: Comp. became Pub. Ch. 70

Plain-language summary

HB 775 is a bill introduced in the Tennessee House on February 4, 2025. According to its official title, it concerns: Interest Rates - As enacted, increases, from 30 to 36 percent per annum, the maximum permitted effective rate of interest that may be contracted for by an industrial loan and thrift company on an unpaid balance where the amount financed is $100 or more; makes other related changes. - Amends TCA Title 45, Chapter 5. Primary sponsor: Powers. Most recent recorded action (April 8, 2025): Comp. became Pub. Ch. 70.

Sponsors

Primary sponsor: Powers.