reglab/statecodes huggingface dataset:
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 22 - HOUSING REHABILITATION (§§ 13-22-101 — 13-22-116) › Section 13-22-111 - Guaranty account

The agency shall establish a special account, to be known as the guaranty account, and shall pay into this account all moneys appropriated and made available by the state for the purposes of the account, and other moneys which may be made available for the purposes of the account from any other source. All moneys held in the guaranty account shall be used by the agency to meet its liabilities on contracts made by it pursuant to §
13-22-112
and upon such terms and conditions as the agency may prescribe.
Acts 1973, ch. 313, § 11; 1975, ch. 339, § 9; T.C.A., § 13-2211; Acts 1988, ch. 901, § 4.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 22 - HOUSING REHABILITATION (§§ 13-22-101 — 13-22-116) › Section 13-22-112 - Mortgage insurance - Interest assistance

(a)
The agency may provide interest assistance to any financial institution with respect to any loan insured by the agency pursuant to this chapter, except mortgages insured pursuant to §
13-22-115
. This assistance, subject to the limitation of funds available pursuant to §
13-22-111
, may be in amounts determined by the agency to be necessary to enable the owner to afford the interest cost of the mortgage loan.
(b)
A contract for interest assistance shall constitute an undertaking by the state to grant to the mortgagee of an insured mortgage loan, for a term not to exceed the term of the mortgage loan, periodic supplements to the interest payable by the owner. Such periodic supplements when added to the interest payments made by the owner shall not exceed the interest rate established pursuant to §
13-22-109(a)(3)
.
(c)
Prior to entering into a mortgage interest assistance contract, the agency shall determine that such assistance is required to avoid default and foreclosure, that no other remedy exists on affordable and reasonable terms, and that the owner meets other such qualifications as the agency may require.
(d)
Any contract for interest assistance may also contain other conditions not inconsistent with this chapter, as may be prescribed by the agency by regulation or as may be agreed on by the financial institution, the agency and the owner.
(e)
Payments of interest assistance shall be made directly to the mortgagee of the insured mortgage loan, shall not be subject to the control of the owner, and shall not constitute income to the owner for taxation or other purposes.
(f)
The agency shall, with the owner and the mortgagee, review from time to time the terms of such contract and the need for assistance thereunder and make any appropriate revisions or termination.
Acts 1973, ch. 313, § 12; 1975, ch. 339, § 10; T.C.A., §13-2212; Acts 1980, ch. 790, § 4; 1988, ch. 901, § 4.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 22 - HOUSING REHABILITATION (§§ 13-22-101 — 13-22-116) › Section 13-22-113 - Temporary vacation of premises

(a)
The chief executive officer, with respect to any housing accommodation which is the subject of an application for mortgage insurance under this chapter, may order any tenants temporarily to vacate the premises during the course of the rehabilitation, if the chief executive officer finds it necessary to have the premises vacated to proceed with the rehabilitation.
(b)
Any tenants who have been temporarily ordered to vacate the premises shall have the right of reinstatement therein, after the rehabilitation has been completed.
Acts 1973, ch. 313, § 13; 1976, ch. 797, § 3; T.C.A., § 13-2213.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 22 - HOUSING REHABILITATION (§§ 13-22-101 — 13-22-116) › Section 13-22-114 - Inconsistency with other laws - Liberal construction

Insofar as this chapter is inconsistent with any other law, general, special or local, this chapter shall be controlling. It is the intent of the general assembly that this chapter be construed liberally so as to effectuate the public and governmental purpose thereof.
Acts 1974, ch. 579, § 6; T.C.A., § 13-2214.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 22 - HOUSING REHABILITATION (§§ 13-22-101 — 13-22-116) › Section 13-22-115 - Graduated payment mortgages - Insurance authorized

(a)
The agency may insure mortgages containing provisions for varying rates of amortization corresponding to anticipated variations in family income to the extent such mortgages:
(1)
Have promise for expanding housing opportunities or meeting special needs; and
(2)
Can be developed to include any safeguards for mortgagors or purchasers that may be necessary to offset special risks of such mortgages.
(b)
Graduated payment mortgages insured by the agency pursuant to this section shall comply with the rules and regulations promulgated by the secretary of housing and urban development pursuant to
12 U.S.C. § 1715b
and
12 U.S.C. § 1715z-10
[repealed]; provided, that this section shall only be applicable to first mortgages.
Acts 1980, ch. 790, § 1; 1988, ch. 901, § 4.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 22 - HOUSING REHABILITATION (§§ 13-22-101 — 13-22-116) › Section 13-22-116 - Graduated payment mortgages - Requirements for commitment to insure

(a)
For the purposes of this chapter, the agency is authorized to make commitments to insure mortgage loans and to contract to insure mortgage loans eligible hereunder upon such terms and conditions as the agency may prescribe, provided:
(1)
Application for mortgage insurance or for a commitment for mortgage insurance has been submitted to the agency by an approved mortgagee holding, or proposing to hold, an insurable mortgage on the housing accommodation;
(2)
The mortgage will have a remaining term of not more than forty (40) years from the date of the issuance of the insurance;
(3)
The mortgage bears interest, exclusive of premium charges fixed by the agency, at a rate not in excess of the legal rate for such mortgages in this state and agreed upon by the mortgagor, the mortgagee, and the agency;
(4)
The mortgage contains a provision satisfactory to the agency varying the rate of amortization to correspond to an anticipated variation in the mortgagor's income;
(5)
The mortgage is in such form and contains such terms and provisions with respect to maturity, hazard and title insurance, repairs, alterations, maintenance, payment of taxes and assessments, default remedies, anticipation of maturity, additional and secondary liens, waiver of equitable and legal redemption rights and other matters as the agency may prescribe; and
(6)
Such mortgage insurance is necessary to enable the mortgagor to obtain the mortgage loan upon reasonable and affordable terms and conditions.
(b)
If the agency, pursuant to the terms of a contract of mortgage insurance, makes any payment upon a defaulted mortgage loan to the mortgagee thereof, the agency shall be subrogated to the rights of the mortgagee.
(c)
The directors, officers and employees of the agency shall not be subject to any personal liabilities due to any obligation or debt created or incurred by the agency.
Acts 1980, ch. 790, § 2; 1988, ch. 901, § 4.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-101 - Short title

This part shall be known and may be cited as the "Tennessee Housing Development Agency Act."
Acts 1973, ch. 241, § 1; T.C.A., § 13-2301.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-102 - Fund raising - Powers - Purposes

In order to promote the production of more affordable new housing units for very low, low and moderate income individuals and families in the state, to promote the preservation and rehabilitation of existing housing units for such persons, and to bring greater stability to the residential construction industry and related industries so as to assure a steady flow of production of new housing units, the Tennessee housing development agency is given the power to raise funds from private investors through issuance of its bonds and notes and to use such funds, together with investment income, and moneys from other public and private sources to:
(1)
Make funds available to sponsors, developers and builders for financing land development and residential housing construction for lower and moderate income persons and families;
(2)
Make funds available to sponsors, developers, builders and purchasers for permanent mortgage financing of housing for lower and moderate income persons and families;
(3)
Purchase existing insured mortgages from lenders within the state and direct an amount equal to the proceeds from the liquidated mortgage investments into new mortgages on residential real property;
(4)
Enter into advance commitments with lenders to purchase insured mortgage loans made to persons and families of lower and moderate income; and further, provide technical, consultative and project assistance services to sponsors of land development or residential housing; and assist in coordinating federal, state, regional and local public and private efforts and resources to otherwise increase the supply of such residential housing;
(5)
Make funds available for housing loans for veterans who qualify as persons and families of low and moderate income by including in each issue of bonds sold under this chapter a veterans' administration guaranteed loan program; and
(6)
Make grants to eligible political subdivisions, as defined by §
13-23-103
, and to such private nonprofit corporations that provide housing and related services in the state; however, such grants must be for purposes which are consistent with the purposes and mission of the agency, and must be allocated and administered in a fashion and manner as is directed by the agency through appropriate rules, regulations and proceedings.
Acts 1973, ch. 241, § 2; T.C.A., § 13-2302; Acts 1984, ch. 799, § 4; 1988, ch. 900, § 1.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-104 - Creation

There is hereby created a body, politic and corporate, to be known as the "Tennessee housing development agency." The agency, a political subdivision and instrumentality of the state, shall be deemed to be acting in all respects for the benefit of the people of the state in the performance of essential public functions and shall be deemed to be serving a public purpose and improving and otherwise promoting the health, welfare, and prosperity of the people of the state, and that the Tennessee housing development agency shall be empowered to act on behalf of the state and its people in serving this public purpose for the benefit of the general public.
Acts 1973, ch. 241, § 4; 1974, ch. 702, § 2; T.C.A., § 13-2304.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-105 - Board of directors

The agency shall have a board of directors which shall be responsible for carrying out the powers given to the agency by this part.
Acts 1973, ch. 241, § 4; 1979, ch. 442, § 8; T.C.A., § 13-2305.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-106 - State officer members - Delegation of duties

(a)
The state treasurer, the comptroller of the treasury, the commissioner of finance and administration, the secretary of state, and a staff assistant to the governor to be designated in writing by the governor, and their successors in the office, from time to time shall, by virtue of their incumbency in such offices and without further appointment or qualification, be directors of the agency.
(b)
Such directors may designate a member of their respective staffs to attend meetings of the board of directors or its committees and to exercise their right to vote in their absence. Such designations must be made in writing to the chair of the board of directors and filed with the secretary of state.
Acts 1973, ch. 241, § 4; 1975, ch. 320, § 1; 1977, ch. 483, § 1; 1979, ch. 442, § 1; T.C.A., § 13-2306.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-108 - Appointed members - Terms, etc

(a)
The members of the board of directors appointed pursuant to §
13-23-107
shall serve for a term of four (4) years, except that any person appointed to fill a vacancy shall serve only for the unexpired term. Upon the expiration of the member's term, the member shall continue to serve until a successor is duly appointed and qualified. When making appointments, the governor shall consider recommendations from relevant interest groups for each vacancy. Furthermore, when making appointments, the governor and speakers shall give consideration to the ethnic, economic and social composition of the state, with particular emphasis on achieving a balance among urban and rural members from the three (3) grand divisions of the state. No appointed member shall serve more than two (2) consecutive terms, unless one (1) such term is an appointment to fill an unexpired term with less than two (2) years remaining, but such appointed member may continue to serve until such appointed member's successor is duly appointed and qualified.
(b)
Each appointed member may be removed by the governor for misfeasance, malfeasance, or willful neglect of duty as determined by the governor. Any appointed member who is absent from four (4) meetings of the board of directors during any twelve-month period shall cease to be a member of the agency and the position shall become vacant upon certification of such fact to the governor by the secretary of the agency.
(c)
Before entering into the appointed member's duties, each appointed member shall take an oath of office to administer the duties of such appointed member's office faithfully and impartially, and a record of such oath shall be filed in the office of the secretary of state.
Acts 1973, ch. 241, § 4; 1977, ch. 483, § 2; 1979, ch. 442, § 3; T.C.A., § 13-2308; Acts 1988, ch. 900, § 3; 1992, ch. 724, § 1.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-109 - Compensation of members

The members of the agency shall receive no compensation for their services, but shall be entitled to receive, from funds of the agency, for attendance at meetings of the agency or any committee thereof and for other services for the agency, reimbursement for such actual expenses as may be incurred for travel and subsistence in the performance of official duties. All reimbursement for travel expenses shall be in accordance with the comprehensive travel regulations as promulgated by the department of finance and administration and approved by the attorney general and reporter.
Acts 1973, ch. 241, § 4; 1976, ch. 806, § 1(57); 1979, ch. 442, § 7; T.C.A., § 13-2309.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-110 - Quorum

A majority of the members of the agency shall constitute a quorum, and the affirmative vote of eight (8) members at a meeting of the members duly called and held shall be necessary for any action taken by the membership of the agency. No vacancy in the membership of the agency shall impair the rights of a quorum to exercise all the rights and to perform all the duties of the agency. For the purposes of determining a quorum and the number of affirmative votes at a meeting, persons who have been delegated the right to vote in accordance with §
13-23-106
shall be considered members of the agency.
Acts 1973, ch. 241, § 4; 1975, ch. 320, § 5; 1977, ch. 483, § 3; T.C.A., § 13-2310; Acts 1988, ch. 900, § 4; 1993, ch. 21, § 2.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-111 - Chair and vice chair

The governor shall designate from those appointed members of the agency a member to serve as chair. The term of the chair shall extend to the earlier of either the date of expiration of such member's then current term as a member of the agency or a date six (6) months after the expiration of the then current term of the governor designating such chair. The agency shall annually elect one (1) of its members as vice chair.
Acts 1973, ch. 241, § 4; T.C.A., § 13-2311; Acts 1988, ch. 900, § 14.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-113 - Distribution of benefits restricted

No part of the revenues or assets of the agency shall inure to the benefit of or be distributable to its members or officers or other private persons.
Acts 1973, ch. 241, § 4; T.C.A., § 13-2313.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-114 - Housing cost index - Program becoming operative

The agency shall establish a housing cost index as defined in §
13-23-103
to be computed monthly or at such time or times as the agency in its discretion may require. The housing cost index shall serve to determine what percentage of the average Tennessee household's gross monthly income is required to pay for primary fixed housing costs under then existing housing market conditions and to establish a basis for a threshold at which the financial assistance programs of this chapter will become effective. Thus, it is hereby found and declared that when primary housing costs, as defined by the housing cost index, reach or exceed twenty-five percent (25%) of an average Tennessee household's gross monthly income, a majority of Tennessee citizens are excluded from the normal housing market; and, in light of that finding, when the housing cost index reaches or exceeds a factor of twenty-five percent (25%) and upon the approval of the board of directors, the financial assistance programs established in this chapter will become operative to aid in providing adequate housing for lower and moderate income persons and families as defined by §
13-23-103
. Notwithstanding any other provision of this section, the agency may at any time approve the operation of the financial assistance programs of this chapter with the affirmative vote of nine (9) members of its board of directors.
Acts 1973, ch. 241, § 4; T.C.A., § 13-2314.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-121 - Issuance of bonds and notes - Maximum aggregate amount - Mortgage revenue bonds

(a)
The agency shall not issue bonds and notes under this part in an aggregate principal amount at any one (1) time outstanding exceeding four billion dollars ($4,000,000,000), excluding bonds or notes for the payment or redemption of which there has been or will be set aside and held in trust either moneys or direct and general obligations of, or obligations guaranteed by, the United States, or obligations secured by such obligations, or any combination thereof, which are or will be sufficient to pay when due the principal or applicable redemption price and all accrued interest thereon and, if such bonds or notes are to be redeemed, for which notice of redemption has been given or satisfactory provision has been made for the giving of such notice. For purposes of computing the aggregate principal amount of outstanding bonds at any one (1) time, bonds which bear no stated interest rate and for which no semiannual interest payments are to be made shall be considered to be issued and outstanding in a principal amount equal to the price paid to the agency for such bonds as of the date of their sale. For purposes of determining the price paid to the agency for such bonds, the amount per five thousand dollars ($5,000) maturity amount which is shown on the official statement of each issue and which is approved by the agency, and its bond counsel, shall be used.
(b)
The fixing of the statutory maximum in this section shall not be construed as constituting a contract between the agency and the holders of its bonds and notes that additional bonds and notes may not be issued subsequently by the agency in the event that such statutory maximum shall subsequently be increased by law.
(c)
The agency will distribute funds from its programs in a manner which provides substantially proportional access to this limited resource to the three (3) grand divisions as established by title 4, chapter 1, part 2, and which will provide the optimum benefit to the citizens of the state.
Amended by 2020 Tenn. Acts, ch. 766, s 1, eff. 7/15/2020.
Acts 1973, ch. 241, § 11; 1977, ch. 483, § 7; 1977, ch. 484, § 1; 1978, ch. 820, § 1; 1979, ch. 442, § 4; T.C.A., § 13-2321; Acts 1980, ch. 916, § 1; 1981, ch. 505, §§ 1, 2, 4; 1982, ch. 780, §§ 1, 2; 1984, ch. 799, § 1; 1984, ch. 991, §§ 1, 2; 1985, ch. 121, § 1; 1988, ch. 900, § 17; 1989, ch. 201, § 1; 1989, ch. 231, § 1; 1991, ch. 466, § 1; 2008 , ch. 627, § 1.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-124 - Credit of state not pledged

(a)
(1)
Obligations issued under this part shall not be deemed to constitute a debt, liability, or obligation of the state or of any other political subdivision thereof, nor a pledge of the full faith and credit of the state or any other political subdivision, but shall be payable solely from the revenues or assets of the agency.
(2)
Each obligation issued under this chapter shall contain on the face thereof a statement to the effect that the agency shall not be obligated to pay the same, nor the interest thereon, except from the revenues or assets pledged therefor and that neither the full faith and credit, nor the taxing power of the state, or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such obligation.
(3)
All obligations of the agency issued under this part are revenue bonds or notes and are not general obligations of the state of Tennessee.
(b)
Expenses incurred by the agency in carrying out this part may be made payable from funds provided pursuant to this part, and no liability is incurred by the agency hereunder beyond the extent to which moneys have been so provided.
Acts 1973, ch. 241, § 14; 1974, ch. 702, § 9; T.C.A., § 13-2324.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-125 - Annual reports - Audits

(a)
The agency may, in accordance with the rules, regulations, policies and procedures of the state publications committee, submit an annual report of its activities for the preceding year to the governor, comptroller of the treasury, and the general assembly. Each such report shall set forth a complete operating and financial statement of the agency during such year. The annual report shall set forth an annual statistical report including, but not limited to, the amount of mortgage loans made and the geographic location of the property having such mortgages; the number, size and average income of families benefiting from the agency's activities; the improved size of housing for such families; and comparison of the loan interest rates for such families with and without the agency's activities.
(b)
(1)
The annual report, including financial statements, all books, accounts and financial records of the agency shall be audited annually by the comptroller of the treasury.
(2)
All audits performed by the internal audit staff of the agency shall be conducted in accordance with the standards established by the comptroller of the treasury pursuant to §
4-3-304(9)
.
Acts 1973, ch. 241, § 15; 1974, ch. 702, § 10; 1977, ch. 483, § 12; T.C.A., § 13-2325; Acts 1984, ch. 794, § 9; 1990, ch. 1024, § 15; 2004, ch. 656, § 2.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-126 - Authority to accept funds

(a)
The agency is authorized to accept such moneys as may be appropriated from time to time by the general assembly for effectuating its corporate purposes including, without limitation, the payment of the initial expenses of administration and operation and the establishment of a reserve or contingency fund to be available for the payment of the principal of and the interest on any bonds or notes of the agency.
(b)
The agency is authorized to accept funds from any other legal and appropriate source for effectuating its corporate purposes.
Acts 1973, ch. 241, § 16; T.C.A., § 13-2326; Acts 1988, ch. 900, § 8.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-127 - Tax exemption

(a)
The exercise of the powers granted by this part will be in all respects for the benefit of the people of the state, for their well being and prosperity and for the improvement of their social and economic conditions, and the agency is not required to pay any tax or assessment on any property owned by the agency under this part or upon the income therefrom; nor is the agency required to pay any transfer tax of any kind on account of instruments recorded by it or on its behalf.
(b)
Any obligations issued by the agency under this part, their transfer, and the income therefrom, including any profit made on the sale thereof, shall at all times be free from taxation by the state or any local unit or political subdivision or other instrumentality of the state, excepting inheritance and gift taxes.
Acts 1973, ch. 241, § 17; 1975, ch. 152, § 1; T.C.A., § 13-2327.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-129 - Bonds and notes as legal investments

The bonds and notes of the agency are hereby made securities in which all public officers and bodies of this state and all municipal subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, trust companies, including savings and loan associations, building and loan associations, investment banking companies and other persons carrying on an investment banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons who are now or may hereafter be authorized to invest in bonds or other obligations of the state, may properly and legally invest in the bonds and notes of the agency funds including capital in their own control or belonging to them. The bonds and notes are also hereby made securities which may be deposited with and may be received by all public officers and bodies of this state and all municipalities and municipal subdivisions for any purpose for which the deposit of bonds or notes or other obligations of this state is now or may hereafter be authorized.
Acts 1974, ch. 702, § 11; T.C.A., § 13-2329.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-130 - Supplemental nature

This part is deemed to provide an additional and alternative method for the activities authorized thereby and is regarded as supplemental and additional to powers conferred by other laws, and shall not be regarded as in derogation of any powers now existing.
Acts 1973, ch. 241, § 19; T.C.A., § 13-2330.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-131 - Inconsistencies with other laws

Insofar as this part is inconsistent with any other law, general, special, or local, this part is controlling.
Acts 1973, ch. 241, § 20; T.C.A., § 13-2331.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-132 - Construction

This part, being necessary for the welfare of the state and its inhabitants, shall be liberally construed so as to effectuate its purposes.
Acts 1973, ch. 241, § 21; T.C.A., § 13-2332.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 1 - TENNESSEE HOUSING DEVELOPMENT AGENCY ACT (§§ 13-23-101 — 13-23-134) › Section 13-23-133 - False statements intended to influence participation in agency programs - Penalties

(a)
It is unlawful for any person to knowingly make, utter, or publish a false statement of substance or aid or abet another person in making, uttering, or publishing a false statement of substance for the purpose of influencing the agency to allow participation in any of its programs.
(b)
A violation of this section is a Class E felony.
Acts 1977, ch. 483, § 10; T.C.A., § 13-2333; Acts 1989, ch. 591, §§ 1, 6; 1993, ch. 278, § 1.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 2 - HANDICAPPED HOUSING AUTHORIZATION ACT OF 1977 (§§ 13-23-201 — 13-23-206) › Section 13-23-201 - Short title

This part shall be known and may be cited as the "Handicapped Housing Authorization Act of 1977."
Acts 1977, ch. 236, § 1; T.C.A., § 13-2341.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 2 - HANDICAPPED HOUSING AUTHORIZATION ACT OF 1977 (§§ 13-23-201 — 13-23-206) › Section 13-23-202 - Loans for residential housing for elderly and persons with disabilities authorized

The Tennessee housing development agency is hereby authorized to make, or participate in the making of, construction and permanent mortgage loans to sponsors, builders, and developers of residential housing for persons who are elderly or have a disability, without respect to the requirements of §§
13-23-116
and
13-23-117
; provided, that no such loan or loans shall be made unless:
(1)
The United States or an instrumentality thereof has committed to provide housing assistance payments in connection with the housing development; and
(2)
Appropriate agencies of state government have entered into agreements with the Tennessee housing development agency to provide support services in connection with the housing development.
Acts 1977, ch. 236, § 2; T.C.A., § 13-2342; Acts 2011, ch. 47, § 7.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 2 - HANDICAPPED HOUSING AUTHORIZATION ACT OF 1977 (§§ 13-23-201 — 13-23-206) › Section 13-23-203 - Educational, vocational, therapeutic, medical and other services for residents

All affected agencies of state government are hereby authorized to enter into interagency agreements with the Tennessee housing development agency to provide educational, vocational, therapeutic, medical, or other services on behalf of residents of housing developments financed pursuant to this part.
Acts 1977, ch. 236, § 3; T.C.A., § 13-2343.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 2 - HANDICAPPED HOUSING AUTHORIZATION ACT OF 1977 (§§ 13-23-201 — 13-23-206) › Section 13-23-204 - Maximum amount of loan

The maximum mortgage amount for a development financed by the Tennessee housing development agency pursuant to this part shall not exceed three hundred fifty thousand dollars ($350,000).
Acts 1977, ch. 236, § 4; T.C.A., § 13-2344.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 2 - HANDICAPPED HOUSING AUTHORIZATION ACT OF 1977 (§§ 13-23-201 — 13-23-206) › Section 13-23-205 - Part definitions

The words and terms used in this part, unless the context clearly requires otherwise, have the same meaning as provided in §
13-23-103
.
Acts 1977, ch. 236, § 5; T.C.A., § 13-2345.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 2 - HANDICAPPED HOUSING AUTHORIZATION ACT OF 1977 (§§ 13-23-201 — 13-23-206) › Section 13-23-206 - Inconsistencies with other laws

Insofar as this part is inconsistent with any other law, this part is controlling.
Acts 1977, ch. 236, § 6; T.C.A., § 13-2346.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-301 - Creation and use of fund

(a)
There is established a homebuyers' revolving loan fund pool for participating Tennessee counties, for the purposes set out in this part, to be administered by the Tennessee housing development agency, herein referred to as "THDA", in accordance with this part. The cost of administering this fund shall be borne by THDA out of its own administrative budget.
(b)
The funds provided for by this part shall be used to make loans to low and moderate income persons in areas which have critical housing needs for the purpose of such persons securing residential housing, including housing which has been substantially rehabilitated, by the owner of such substantially rehabilitated property or by any third party or business entity.
Acts 1985, ch. 473, § 1; 1986, ch. 510, § 1.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-302 - Part definitions

As used in this part, unless the context otherwise requires:
(1)
"Loan fund pool" means appropriations by the state and any appropriations, reserves or dedications of any funds by any county which desires to participate in the homebuyers' revolving loan fund pool;
(2)
"Local portion" means funds appropriated, reserved or dedicated by any county to fund its respective local portion of the loan fund pool;
(3)
"Low income and moderate persons" means qualified persons or families who lack the amount of income which is necessary, as determined by THDA, to enable them, without low interest financial assistance, to live in decent, safe and sanitary dwellings without overcrowding;
(4)
"Qualifying matching share" means funds from any source, other than funds appropriated, reserved or dedicated by the state or any county to specifically fund the state or any local portion, which are used to fund the amount of any loan not funded by the loan fund pool;
(5)
"State portion" means funds appropriated by the state to fund the state portion of the loan fund pool; and
(6)
"Substantial rehabilitation" means that improvements are made to residential real property exceeding thirty-five percent (35%) of the proposed market value of the structure after rehabilitation.
Acts 1985, ch. 473, § 2; 1986, ch. 510, § 2.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-303 - Initial capitalization funds - Surcharge

(a)
Funds for the initial capitalization of the loan fund pool created by this part shall be used for loans to qualified low and moderate income persons and shall derive from the following sources in the following distribution, and payable at the rate of interest, if any, as herein provided:
(1)
State portion - Seventy percent (70%) of the loan fund pool shall consist of a two million five hundred thousand dollar ($2,500,000) appropriation for the state portion established by this part; and
(2)
Local portion - Thirty percent (30%) of the loan fund pool shall derive from appropriations, reserves or dedications by any county where the property is located which has agreed to participate in the project. Any county desiring to participate in the loan fund pool shall appropriate, reserve or dedicate revenues to fund its respective local portion prior to its acceptance by THDA to participate in the loan fund pool created by this part.
(b)
(1)
Any county so participating may, by ordinance or resolution, levy a surcharge of one dollar ($1.00) per residential permit and five dollars ($5.00) per commercial permit issued by the county agency or department of codes administration.
(2)
Such surcharge may be levied on construction, plumbing, electrical, mechanical, moving, demolition, sign, use and occupancy, sand and gravel extraction, extension, trailer space and mobile home space, curb cut, driveway entrances and exits, sidewalks, automatic sprinklers, standpipes, and excavation and grading permits, as well as any other permit which may be issued by the county agency or department of codes administration.
(3)
All surcharges collected pursuant to this subsection (b) shall be reserved, dedicated, or appropriated to fund, in whole or in part, the local portion of the homebuyers' revolving loan fund program.
(4)
If state portion funds are not available, then surcharges collected pursuant to this subsection (b) may be used as the sole source for funding the county's homebuyers' revolving loan fund program or may be used in combination with such other funding sources as may be available.
(5)
This subsection (b) applies only to counties of the first and second classes as classified in §
8-24-101
; and to counties having a population of:
not less than
nor more than
21,575
21,675
37,000
37,100
according to the 1980 federal census or any subsequent federal census.
Acts 1985, ch. 473, § 3; 1986, ch. 510, § 3; 1987, ch. 367, §§ 1-3; 1999, ch. 68, § 1.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-304 - Qualifying matching share funding

(a)
Funding for any qualifying matching share shall derive from any source, public or private, other than appropriations, reserves or dedications utilized to fund the state and local portions of the loan fund pool.
(b)
The interest rate charged to the borrower of such funds shall not exceed the prevailing market rate of interest for residential mortgages and shall not be less than a rate which will produce a blended mortgage interest rate of three percent (3%) applicable to the total loan amount.
Acts 1985, ch. 473, § 4; 1986, ch. 510, § 4.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-305 - Loan limitations

(a)
The amount of any loan to any borrower made by the loan fund pool created by this part shall not exceed sixty-five percent (65%) of the total loan amount, plus any permissible closing costs eligible for financing.
(b)
Loan agreements for repayment under this part shall not exceed thirty (30) years.
Acts 1985, ch. 473, § 5; 1986, ch. 510, § 5.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-306 - Application to participate

(a)
A county which desires to participate in the loan fund pool established by this part shall file with THDA, in the manner prescribed by THDA, its intent to participate and the extent of its financial participation within ninety (90) days following March 5, 1986, in order to be eligible to participate in the loan fund pool during its first twelve-months of operation. THDA shall promulgate rules and regulations governing filings in subsequent twelve-month periods of operation.
(b)
The THDA shall accept only one (1) application to establish a loan fund pool per county.
(c)
In the absence of an application by any county, an incorporated municipality located within such county may file an individual or, with other municipalities in the county, a joint application, but only with such county's sponsorship.
Acts 1985, ch. 473, § 6; 1986, ch. 510, § 6.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-307 - Rules and regulations - Reports

(a)
THDA shall promulgate rules and regulations which guarantee equitable distribution of state appropriations for the homebuyers' revolving loan fund projects throughout the state, based upon the unmet housing needs of both rural and urban communities. However, this provision does not apply to funds appropriated pursuant to §
13-23-312
.
(b)
THDA shall promulgate necessary rules and regulations to accomplish the effect and intent of this part in accordance with the Uniform Administrative Procedures Act, compiled in title 4, chapter 5.
(c)
THDA is required to make annual status reports on the homebuyers' revolving loan fund pool activities to the governor and general assembly.
Acts 1985, ch. 473, §§ 7, 11; 1986, ch. 510, §§ 7, 11.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-308 - Administration of program - Deposits - Disposition of funds

(a)
Any county may administer its own program under this part with THDA oversight.
(b)
All funding for state and local portions shall be deposited in an accredited financial institution located within such administrating county and used for the purposes of this part.
Acts 1985, ch. 473, § 8; 1986, ch. 510, § 8.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-309 - Persons to benefit from loans - Interest

(a)
Any loans to borrowers, including interest earned on investment of repayments of such loans, by any participating county, shall be used to benefit low and moderate income individuals or families residing within such county during its participation in the loan fund pool. All such interest repayments shall be added to the loan fund pool and deposited in the local financial depository designated by the administrating county or with THDA in cases where local counties opt for THDA administration of their respective loan fund pools.
(b)
Interest earned on investment of repayments of the local portion of the loan fund pool shall be allocated solely to the county from which such portion is derived, and such interest earnings shall be included in determining the respective amount of the local portion required under §
13-23-303(a)(2)
in any year following the initial year of such county's participation.
Acts 1985, ch. 473, § 9; 1986, ch. 510, § 9.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-310 - Termination of participation

Any county may opt to terminate its participation in the loan fund pool by giving at least three (3) months' notice to THDA prior to the expiration of any twelve-month term of operation of the loan fund pool. Any such termination is without prejudice as regards participation of such terminating county in any subsequent twelve-month term of the loan fund pool. However, such terminating county's allocation of interest earnings on repayments reverts to the loan fund pool and shall be utilized for the purposes described in this part. Acceptance of any new application by such terminating county during any subsequent twelve-month term of operation of the loan fund pool is not deemed to be a forgiveness of the interest forfeiture mandated by this section.
Acts 1985, ch. 473, § 10; 1986, ch. 510, § 10.
2023 Tennessee Code › Title 13 - PUBLIC PLANNING AND HOUSING (§§ 13-1-101 — 13-30-120) › Chapter 23 - HOUSING DEVELOPMENT AGENCY (§§ 13-23-101 — 13-23-506) › Part 3 - HOMEBUYERS' REVOLVING LOAN FUND POOL (§§ 13-23-301 — 13-23-312) › Section 13-23-311 - Appropriation of state's funding portion

Funding for the state portion of the loan fund pool established by this part is subject to funds appropriated for this purpose in the general appropriations act.
Acts 1985, ch. 473, § 12; 1986, ch. 510, § 13.