Bill
Bill > SB1760
TN SB1760
TN SB1760AN ACT to amend Tennessee Code Annotated, Title 9, Chapter 23 and Title 67, Chapter 5, relative to taxpayer agreements.
summary
Introduced
01/20/2026
01/20/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, allows a housing authority, industrial development corporation, or community redevelopment agency to enter into an agreement with a property owner in an area identified in a redevelopment plan, economic impact plan, or community redevelopment plan that requires the owner to make certain payments to secure the bonds of the authority, corporation, or agency; requires the agreement to be recorded in the county's real property records to create a lien; affords the lien first priority over previously and later recorded mortgages and all other liens. - Amends TCA Title 9, Chapter 23 and Title 67, Chapter 5.
AI Summary
This bill allows certain government entities, like housing authorities and industrial development corporations, to enter into "taxpayer agreements" with property owners in designated redevelopment areas. These agreements require property owners to make specific payments to help secure bonds or other financial obligations issued by these agencies. Importantly, any lien created by these agreements, called a "taxpayer agreement lien," will have the highest priority, meaning it will be paid before any existing or future mortgages or other liens on the property, similar to how property taxes are prioritized. The bill also defines "taxpayer direct payment" as the amount needed to cover debt service on bonds if the actual tax revenues generated in the area are insufficient. These agreements must be officially recorded in the county's property records.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Passed on Second Consideration, refer to Senate State and Local Government Committee (on 01/22/2026)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1760&ga=114 |
| Fiscal Note - SB1760 | https://www.capitol.tn.gov/Bills/114/Fiscal/SB1760.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB1760.pdf |
Loading...