2025-2026 Regular SessionTennessee Legislature

HB0691: AN ACT to amend Tennessee Code Annotated, Section 67-4-2109, relative to tax credits for financial institutions.

Legislative Summary

As introduced, changes the amounts of the franchise and excise tax credits allowed to financial institutions from certain percentages of the unpaid principal balance of certain qualified loans made to eligible housing entities to certain percentages of the month-end average unpaid principal balance of such loans; makes other related revisions. - Amends TCA Section 67-4-2109.

Demographic Impact

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Bill History

2/3/2025
Filed for introduction
House of Representatives
2/5/2025
Intro., P1C.
House of Representatives
2/6/2025
P2C, ref. to Finance, Ways, and Means Committee
House of Representatives
2/10/2025
Assigned to s/c Finance, Ways, and Means Subcommittee
House of Representatives
2/19/2025
Placed on s/c cal Finance, Ways, and Means Subcommittee for 2/26/2025
House of Representatives
2/26/2025
Placed behind the budget
House of Representatives
4/9/2025
Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025
House of Representatives
4/16/2025
Sponsor(s) Added.
House of Representatives
4/16/2025
Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/17/2025
House of Representatives
4/17/2025
Rec. for pass by s/c ref. to Finance, Ways, and Means Committee
House of Representatives
4/17/2025
Rec. for pass. if am., ref. to Calendar & Rules Committee
House of Representatives
4/17/2025
Placed on cal. Calendar & Rules Committee for 4/17/2025
House of Representatives
4/17/2025
H. Placed on Regular Calendar for 4/21/2025
House of Representatives
4/21/2025
H. adopted am. (Amendment 1 - HA0502)
House of Representatives
4/21/2025
Passed H., as am., Ayes 92, Nays 0, PNV 0
House of Representatives
4/21/2025
Engrossed; ready for transmission to Sen.
House of Representatives
4/22/2025
Received from House, Passed on First Consideration
Senate
4/22/2025
Senate substituted House Bill for companion Senate Bill.
Senate
4/22/2025
Amendment withdrawn. (Amendment 1 - SA0448)
Senate
4/22/2025
Passed Senate, Ayes 33, Nays 0
Senate
4/28/2025
Enrolled; ready for sig. of H. Speaker.
House of Representatives
4/30/2025
Signed by H. Speaker
House of Representatives
5/8/2025
Signed by Senate Speaker
Senate
5/9/2025
Transmitted to Governor for his action.
House of Representatives
5/21/2025
Signed by Governor.
5/27/2025
Pub. Ch. 496
5/27/2025
Effective date(s) 01/01/2026

Amendments

HA0502

Amendment 1-0 to HB0691

4/17/2025Not Adopted

Roll Call Votes

FLOOR VOTE: Third Consideration
4/22/2025
33
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
FLOOR VOTE: REGULAR CALENDAR AS AMENDED PASSAGE ON THIRD CONSIDERATION
4/21/2025
92
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
HOUSE FINANCE, WAYS, AND MEANS SUBCOMMITTEE: Rec. for pass by s/c ref. to Finance, Ways, and Means Committee
4/17/2025
11
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
HOUSE FINANCE, WAYS, AND MEANS COMMITTEE: Rec. for pass. if am., ref. to Calendar & Rules Committee
4/17/2025
28
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED
HOUSE FINANCE, WAYS, AND MEANS COMMITTEE: Rec. for pass; ref to Calendar & Rules Committee
4/17/2025
27
Yea
0
Nay
0
Not Voting
0
Absent
Result: PASSED

Status Information

Current Status
Passed(5/27/2025)
Chamber
House of Representatives

Sponsors

Documents

Chaptered
Bill Text5/22/202557.0 KB
Draft
Bill Text2/4/20258.4 KB
Draft
Bill Text2/3/20258.3 KB
Fiscal Note/Analysis
Fiscal Note/Analysis3/17/2025164.1 KB
Fiscal Note
Fiscal Note2/22/2025145.7 KB