Bill
Bill > SB2424
TN SB2424
TN SB2424AN ACT to amend Tennessee Code Annotated, Title 66, Chapter 2, Part 3, relative to real property ownership.
summary
Introduced
02/02/2026
02/02/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, prohibits certain foreign entities from acquiring an interest in non-agricultural land in this state; requires registration of such interest held in non-agricultural property by such foreign entities prior to January 1, 2025. - Amends TCA Title 66, Chapter 2, Part 3.
AI Summary
This bill prohibits certain foreign entities, defined as "prohibited foreign-party-controlled businesses" or "prohibited foreign parties," from acquiring or holding any interest in non-agricultural land within Tennessee, with violations punishable as a Class A misdemeanor. For any such entities already holding an interest in non-agricultural land as of January 1, 2025, they are required to register that interest with the Tennessee Secretary of State by a specific deadline, providing extensive details about the entity, its ownership, and its business purposes, and failure to register can result in civil penalties. The bill also mandates that any prohibited foreign entity found to be in violation must divest itself of the land within two years, or face potential legal action by the Attorney General.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Passed on Second Consideration, refer to Senate Commerce and Labor Committee (on 02/05/2026)
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?BillNumber=SB2424&ga=114 |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB2424.pdf |
| Fiscal Note - HB1788 | https://www.capitol.tn.gov/Bills/114/Fiscal/HB1788.pdf |
Loading...