Tennessee SB2424 amends state law to regulate foreign-party-controlled businesses and prohibited foreign parties from owning non-agricultural land.

Tennessee SB2424 amends state law to prohibit foreign-party-controlled businesses and prohibited foreign parties from acquiring or holding interests in non-agricultural land. It mandates registration of such interests with the Secretary of State, including details about the parties involved and their affiliations. Failure to register or divest within two years results in penalties, including fines and potential criminal charges. The act takes effect July 1, 2026.

Tennessee SB2424 amends state law to regulate foreign-party-controlled businesses and prohibited foreign parties from owning non-agricultural land.

Tennessee SB2424 amends state law to prohibit foreign-party-controlled businesses and prohibited foreign parties from acquiring or holding interests in non-agricultural land. It mandates registration of such interests with the Secretary of State, including details about the parties involved and their affiliations. Failure to register or divest within two years results in penalties, including fines and potential criminal charges. The act takes effect July 1, 2026.