Bill > HB0297

This bill amends Tennessee's Agricultural, Forest and Open Space Land Act to clarify property ownership rules for land designated under special tax assessment programs. Specifically, the bill addresses situations where property is owned by two individuals under either "tenancy by the entireties" or "joint tenancy with right of survivorship" - two legal ownership arrangements where multiple people share property rights. Under the proposed changes, if one owner dies or the owners divorce, the property will be considered to have "unchanged ownership" if it is retained by the surviving owner through right of survivorship or distributed to one owner in a divorce proceeding. This means the property can maintain its special land use classification (agricultural, forest, or open space land) without requiring a new application or potentially losing its tax-advantaged status. The bill applies this provision to three different sections of Tennessee tax code related to land use classifications, ensuring consistent treatment across different types of protected land. The act will take effect immediately upon becoming law, with the stated purpose of serving the public welfare.

Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0297&ga=114