County Government - As introduced, authorizes a county to sell surplus, obsolete, or unusable real property in an arms-length transaction to a third party for a price not less than its fair market value as determined by at least two state-licensed appraisers without requiring public auction or sealed bids, upon approval by a majority vote of the county legislative body. - Amends TCA Title 5, Chapter 14, Part 1 and Section 5-21-130.

Summary

The bill lets Tennessee counties sell property that is surplus, obsolete, or unusable without holding a public auction or sealed‑bid process. The sale must be at a price equal to or above the fair market value determined by at least two state‑licensed appraisers, and it requires a majority vote of the county’s legislative body. This change is intended to speed up disposal of idle land and reduce transaction costs.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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