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TN SB0646
TN SB0646AN ACT to amend Tennessee Code Annotated, Title 4; Title 5; Title 6; Title 7; Title 9 and Title 58, relative to providing financial assistance in counties impacted by Hurricane Helene.
summary
Introduced
01/31/2025
01/31/2025
In Committee
Crossed Over
Passed
05/27/2025
05/27/2025
Dead
Signed/Enacted/Adopted
05/27/2025
05/27/2025
Introduced Session
114th General Assembly
Bill Summary
As enacted, authorizes use of the Hurricane Helene interest payment fund to pay local governments' loan charges; makes related changes. - Amends TCA Title 4; Title 5; Title 6; Title 7; Title 9 and Title 58.
AI Summary
This bill establishes a Hurricane Helene interest payment fund designed to provide financial assistance to local governments in counties affected by Hurricane Helene. Specifically, the fund will help local governments pay loan charges and interest costs for up to three years on money borrowed for eligible disaster recovery expenses. The interest payments will be capped at either five percent or the prime interest rate, whichever is lower. The fund will only apply to local governments in counties that were included in the federal disaster declaration for Hurricane Helene. The bill defines "loan charges" broadly to encompass various fees associated with loan processing and servicing, such as origination fees, application fees, appraisal fees, payment processing fees, and brokerage fees. The legislation will take effect immediately upon becoming law, with the stated purpose of supporting public welfare in the aftermath of the hurricane.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (6)
Rusty Crowe (R)*,
Paul Bailey (R),
Janice Bowling (R),
Robert Harshbarger (R),
Steve Southerland (R),
Jeff Yarbro (D),
Last Action
Comp. became Pub. Ch. 521 (on 05/27/2025)
bill text
bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0646&ga=114 |
| BillText | https://publications.tnsosfiles.com/acts/114/pub/pc0521.pdf |
| Amendment 2-0 to SB0646 | https://www.capitol.tn.gov/Bills/114/Amend/SA0442.pdf |
| Fiscal Memo for SA0442 (7424) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM1320.pdf |
| Amendment 1-0 to SB0646 | https://www.capitol.tn.gov/Bills/114/Amend/SA0320.pdf |
| Fiscal Memo for SA0320 (5314) | https://www.capitol.tn.gov/Bills/114/Fiscal/FM0811.pdf |
| Fiscal Note - SB0646 | https://www.capitol.tn.gov/Bills/114/Fiscal/SB0646.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB0646.pdf |
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