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Bill > SB2526
TN SB2526
TN SB2526AN ACT to amend Tennessee Code Annotated, Title 5, Chapter 14, Part 1 and Section 5-21-130, relative to the sale of surplus real property by counties.
summary
Introduced
02/02/2026
02/02/2026
In Committee
Crossed Over
Passed
Dead
Introduced Session
114th General Assembly
Bill Summary
As introduced, authorizes a county to sell surplus, obsolete, or unusable real property in an arms-length transaction to a third party for a price not less than its fair market value as determined by at least two state-licensed appraisers without requiring public auction or sealed bids, upon approval by a majority vote of the county legislative body. - Amends TCA Title 5, Chapter 14, Part 1 and Section 5-21-130.
AI Summary
This bill allows counties in Tennessee to sell real property that is no longer needed, meaning it has been declared surplus, obsolete, or unusable, through a direct sale to a third party in an "arms-length transaction," which is a sale between unrelated parties acting in their own self-interest. The sale must be for a price no less than the property's fair market value, determined by at least two state-licensed appraisers, and does not require a public auction or sealed bids, as long as the county legislative body, which is the county's governing body, approves the sale by a majority vote. This change amends existing Tennessee Code Annotated (TCA) sections related to county powers and property sales.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Passed on Second Consideration, refer to Senate State and Local Government Committee (on 02/05/2026)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/Default?BillNumber=SB2526&ga=114 |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB2526.pdf |
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