House Bill 2037, also known as the "Tennessee Just Compensation for Property Owners Act," aims to amend the existing laws regarding eminent domain exercised by airport authorities in Tennessee. The bill introduces a new section to Tennessee Code Annotated, Title 29, Chapter 16, Part 2, which establishes specific guidelines for determining damages and costs owed to property owners when their property is taken by airport authorities. Key provisions include the requirement for property owners to select a certified appraiser for property valuation, the court's authority to appoint an independent appraiser if necessary, and the stipulation that the airport authority must cover the costs of appraisals and estimates related to relocation and lost profits.

Additionally, the bill modifies existing sections of Tennessee Code Annotated, specifically Sections 42-3-109, 42-4-108, and 42-5-108, to ensure that any authority acquiring property by eminent domain must adhere to the new compensation standards outlined in the bill. The legislation emphasizes the need for just compensation, including damages for relocation costs, lost wages, and increased interest rates, while also allowing for the award of attorneys' fees and additional damages if the compensation is deemed insufficient. The act is set to take effect on July 1, 2026.

Statutes affected:
Introduced: 42-3-109, 42-4-108, 42-5-108