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

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.

In committee Last action April 28, 2025: Comp. became Pub. Ch. 290

Plain-language summary

SB 749 is a bill introduced in the Tennessee Senate on February 4, 2025. According to its official title, it concerns: 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. Primary sponsor: Ken Yager (Republican). Most recent recorded action (April 28, 2025): Comp. became Pub. Ch. 290.

Sponsors

Primary sponsor: Ken Yager (Republican).