Housing - As introduced, enacts the "Affordable Housing and Tenant Protection Act"; allows local governments to adopt ordinances and resolutions to control rent for private residential rental units; creates the increased housing program and increased housing fund; authorizes the Tennessee housing development agency to make grants from the fund to eligible developers and first-time homebuyers to assist in gap financing and down payment assistance. - Amends TCA Title 7, Chapter 53; Title 9; Title 12; Title 13; Title 66 and Title 67.

SB 961, the "Affordable Housing and Tenant Protection Act," allows Tennessee local governments to adopt rent control ordinances for private residential properties after conducting housing supply assessments and establishing local rent agencies. It creates the "Increased Housing Program" administered by the Tennessee Housing Development Agency (THDA), which provides gap financing to developers building affordable housing and down payment assistance to first-time homebuyers for owner-occupied homes. The program prioritizes communities affected by recent federally declared disasters and requires annual reporting on program outcomes. This bill directly affects renters, landlords, and developers in localities that adopt rent control, while expanding state-level support for affordable housing construction and homebuying.