Bill > SB0735

This bill amends Tennessee law to strengthen protections for owners of outdoor advertising devices when these devices are required to be removed by government agencies. Specifically, the bill mandates that when a lawfully erected outdoor advertising device must be removed for any reason, the owner must receive "just compensation" that goes beyond previous practices. The bill explicitly prohibits the use of amortization (a method where the value of the device is gradually reduced over time) as a form of compensation. Instead, if a political subdivision or governmental agency requires removal without offering relocation options, the owner must be paid the full cost of removal plus the fair market value of the device. The bill applies to situations covered under federal highway regulations (23 U.S.C. § 131) and ensures that outdoor advertising devices are treated similarly to other structures or improvements when being condemned. This change provides more financial protection for billboard and outdoor advertising device owners by guaranteeing full monetary compensation when their property is removed by government action.

Budget and Finance, Justice

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0735&ga=114