Bill > HB1788

This bill prohibits certain foreign entities, defined as "prohibited foreign-party-controlled businesses" or "prohibited foreign parties," from acquiring or holding an interest in non-agricultural land in Tennessee, meaning land not used for farming. Existing law is amended to state that such entities cannot acquire land through purchase, inheritance, or other means, nor can they hold land as a trustee or agent for these prohibited foreign entities. If a violation occurs, the entity has two years to sell the land, and failure to do so can result in legal action by the attorney general and reporter, with violations being a Class A misdemeanor punishable by fines or jail time. Furthermore, any prohibited foreign entity that already owns non-agricultural land in Tennessee as of January 1, 2025, must register that ownership with the secretary of state within 60 days of that date or within 60 days of acquiring the land. This registration requires detailed information about the foreign party, the business, their agents, the purpose of the land ownership, and any other land holdings in the U.S. exceeding 250 acres. The secretary of state will report violations of these provisions to the attorney general and can assess civil penalties of up to $2,000 for failing to register. This act is set to take effect on July 1, 2026.

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB1788&ga=114