TN HB2037

Requires airport authorities to pay property owners 150% of the average appraised value when acquiring property through eminent domain, with appraisals selected by the property owner and paid for by the airport authority

Mandates compensation for relocation costs of personal property, business inventory, and fixtures, requiring property owners to submit at least three competitive contractor estimates

Allows property owners to petition for additional damages based on lost business wages and profits, as well as increased interest rates on residential or business loans resulting from forced relocation

Requires courts to award reasonable attorneys' fees and costs to property owners if the airport authority fails to acquire the property or withdraws its petition

Takes effect July 1, 2026, and applies specifically to eminent domain proceedings initiated by airport authorities under Tennessee Code §§ 42-3-109, 42-4-108, or 42-5-108