HB 2406

Present law creates an exemption from property taxation the real and personal property owned by any religious, charitable, scientific, or nonprofit educational institution that is occupied, and actually used by, the institution or its officers purely and exclusively for carrying out one or more of the exempt purposes for which the institution was create d or exists. However, land not necessary to support exempt structures or site improvement associated with exempt structures is not eligible for exemption beyond a maximum of 100 acres per county. This bill increases the maximum exempt acre limit to 400 acres per county for any nonprofit entity that owns or operates a premier type tourist resort that (i) serves as an event venue for weddings, a farmer's market, photography, birthdays, festivals, a nd similar events; (ii) contains aa small and large dog park with obstacle courses and a dog wash station; (iii) contains a tree grove; (iv) operates as a facility that is greater than 17,000 square feet containing a dual convention space that can accommo da te up to 500 people, and a restaurant with indoor and outdoor seating for approximately 200 guests; (v) offers scenic mountain overlook views; and (vi) is located in Clinton, Tennessee. ON MARCH 16, 2026, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 2054, AS AMENDED. AMENDMENT #1 revises the bill to exempt all structures and site improvements associated with and held by a nonprofit entity, and its wholly owned subsidiaries, owning or operating a premier type tourist resort as described in the bill summary, from prope rty tax on real and personal property regardless of use and raises the maximum exemption for undeveloped land owned by the premier type tourist resort to 400 acres.