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SB 244

Housing - As introduced, requires multi-family facilities, buildings, and structures constructed under a voluntary attainable housing incentive program to be deed-restricted to ensure that the attainable housing continues for at least 30 years, instead of in perpetuity. - Amends TCA Title 13, Chapter 3.

114th Regular Session (2025-2026) Introduced by Todd Gardenhire

Reduces Tennessee's attainable housing deed restrictions from perpetual to 30 years, allowing affordable units to potentially convert to market-rate housing after expiration.

Rcvd. from S., held on H. desk.
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Bill Summary · SB 244

Legislative bill overview

SB 244 modifies Tennessee's voluntary attainable housing incentive program by reducing the deed restriction requirement for affordable housing from perpetual (indefinite) to 30 years. This change applies to multi-family residential facilities constructed under the program, allowing deed restrictions to expire after three decades rather than lasting indefinitely.

Why is this important

Affordable housing deed restrictions directly impact how long units remain affordable for low-to-moderate income residents. Shortening the restriction period from perpetual to 30 years means affordable units could potentially convert to market-rate housing after 2055, affecting long-term housing stability for communities. This also influences developer incentives and the calculus of whether to participate in attainable housing programs.

Potential points of contention

  • Housing permanence: A 30-year restriction is significantly shorter than perpetual affordability protections, potentially creating a "cliff" where housing becomes unaffordable after the restriction expires, affecting generational housing stability
  • Developer incentives vs. public benefit: Shorter restrictions may encourage developer participation but reduce the public benefit and long-term affordability gains taxpayers may expect from incentive programs
  • Program effectiveness: The voluntary nature combined with reduced restrictions may undermine the program's ability to build sustained affordable housing stock, particularly in high-appreciation markets where properties may rapidly increase in value after restrictions end

Compiled from official sources — confirm details with the bill’s official record.

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