(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.
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Terms Used In Tennessee Code 13-23-307

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • 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. See Tennessee Code 13-23-302
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(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.
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