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SB 2424

Real Property - As enacted, enacts the "Sen. Frank Niceley National Security and Economic Protection Act." - Amends TCA Title 66, Chapter 2, Part 3.

114th Regular Session (2025-2026) Introduced by Rusty Crowe

Tennessee prohibits foreign entities from acquiring non-agricultural land and requires existing foreign ownership interests to be registered by January 1, 2025.

Pub. Ch. 733
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Bill Summary · SB 2424

Legislative bill overview

SB 2424 prohibits certain foreign entities from acquiring interests in non-agricultural land in Tennessee and requires those already holding such interests to register them by January 1, 2025. The bill amends Tennessee's property law to restrict foreign ownership of real estate within the state, excluding agricultural land from these restrictions.

Why is this important

Foreign land ownership has become a contentious policy issue nationwide, with concerns about national security, agricultural sovereignty, and domestic property access. This bill represents Tennessee's effort to control who can own real property within its borders, potentially affecting foreign investors, international corporations, and cross-border real estate transactions.

Potential points of contention

  • Definition ambiguity: The bill's success depends heavily on how "certain foreign entities" is defined—unclear definitions could lead to enforcement challenges or unintended consequences for legitimate foreign-owned businesses
  • Constitutional questions: Restrictions on foreign property ownership may face legal challenges under the Commerce Clause and Equal Protection provisions, as similar laws have been contested in other states
  • Economic impact: Prohibiting foreign investment in non-agricultural land could reduce capital inflow, affect real estate markets, and potentially harm property values or development projects that rely on international funding
  • Agricultural exemption rationale: The carve-out for agricultural land is inconsistent with national security arguments often used to justify such restrictions, raising questions about the bill's actual intent

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

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