Senate Bill 2038, also known as the "No Corporate Land Giveaways Act," amends Tennessee Code Annotated to establish new requirements for the transfer of state-owned real property to private entities. The bill mandates that the commissioner of general services and the chair of the state capitol commission must provide written notice at least thirty days prior to any transfer of ownership, exclusive leasehold interest, or exclusive control of state property for private projects without the state receiving consideration. This notice must be sent to the chairs of the joint government operations committee of both the Senate and House of Representatives, as well as to each member of the General Assembly representing the county where the property is located.

Furthermore, the bill stipulates that such transfers cannot occur unless they receive approval from the joint government operations committee within thirty days of the notice. If the committee does not take action within this timeframe, the transfer is automatically deemed disapproved. This legislation aims to enhance transparency and oversight regarding the disposition of public property, ensuring that state assets are not given away without proper legislative scrutiny.