Bill > SB2120

This bill, known as the "Tennessee Just Compensation for Property Owners Act," requires airport authorities in Tennessee that use eminent domain, which is the government's power to take private property for public use, to pay enhanced damages and costs to property owners. Specifically, when an airport authority seeks to acquire property, the property owner will select a certified appraiser to determine its value, and the airport authority will pay for this appraisal. If a second appraisal is needed, the court will appoint an independent appraiser, also at the airport authority's expense, and the property's value for compensation will be based on 150% of the average of the appraisals, ensuring the value isn't lowered by nearby airport acquisitions. The bill also mandates that airport authorities cover the costs of obtaining estimates for relocating the owner's personal property, and allows property owners to seek damages for lost wages and profits if they operated a business on the property, as well as for increased interest rates on loans due to relocation. Furthermore, if the airport authority cannot acquire the property or withdraws its request, it must pay the property owner's attorneys' fees and costs, and the court can award additional damages if the owner is not made financially whole. The bill also clarifies that an airport authority cannot take possession of property until all these damages and costs are paid.

Justice

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB2120&ga=114