Housing - As enacted, authorizes any county having made loans in excess of the amount of funds in the initial capitalization of the loan fund pool for the county to terminate its participation in the homebuyers' revolving loan fund pool with notice to the Tennessee housing development agency and to retain all funds, including any funds used for initial capitalization or interest earnings on repayments. - Amends TCA Title 13, Chapter 23.

SB 857 allows counties participating in Tennessee's homebuyers' revolving loan program to end their involvement if they've made loans exceeding their initial funding. Counties can then retain all funds in the pool, including their original capital and any interest earned from repayments, after giving notice to the Tennessee Housing Development Agency (THDA). This change applies to counties that have lent more than their initial capitalization amount, altering how they manage excess funds when exiting the program. The law takes effect July 1, 2025, and directly affects participating counties managing these homebuyer loans.