Senate Bill 2120, 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 outlines specific procedures and criteria for determining damages 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 costs of appraisals and estimates for relocation must be covered by the airport authority. Additionally, the bill allows for compensation based on lost wages, increased interest rates, and reasonable attorneys' fees if the property cannot be acquired.

The bill also amends 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 established in the bill. The amendments replace previous language regarding the payment of damages and costs with a requirement to follow the new guidelines set forth in the act. This legislation is designed to enhance the compensation framework for property owners affected by eminent domain actions initiated by airport authorities, ensuring they receive fair treatment and just compensation for their losses. The act is set to take effect on July 1, 2026.

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