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TennesseeSB 0948114th General Assembly (2025-2026)SenateWALLET

AN ACT to amend Tennessee Code Annotated, Title 47 and Title 67, relative to veterans.

Sponsored By: Bill Powers (Republican)

Became Law

Housing

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Property tax break for veteran housing

Counties and cities can opt in to a new property tax exemption for affordable housing. The property must be owned by a joint venture that includes a qualified, tax‑exempt nonprofit partner with a mission to house homeless veterans and strict charter rules. The housing must be permanent and affordable to low‑income households (income at or below 80% of area median income). At least 30% of units must be reserved for veterans experiencing homelessness, such as those with VASH or similar subsidies or referred through coordinated entry. Projects that rent all units at HUD low‑income rents count as permanent affordable housing. Eligible ownership includes limited partnerships and certain wholly owned LLCs of those partnerships.

Large exempt projects pay in-lieu taxes

Beginning July 1, 2025, exempt projects with more than 12 units must make annual payments in lieu of property taxes. Owners and the city or county can negotiate the amount to cover local services. If there is no agreement, the owner must pay at least 25% of the property tax that would apply without the exemption. This applies only to projects that qualify for the new exemption.

Sponsors & Cosponsors

Sponsor

  • Bill Powers

    Republican • Senate

Cosponsors

  • Ed Jackson

    Republican • Senate

  • Shane Reeves

    Republican • Senate

  • Paul Rose

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 128 • No: 1

House vote • 4/16/2025

FLOOR VOTE: REGULAR CALENDAR PASSAGE ON THIRD CONSIDERATION 4/16/2025

Yes: 89 • No: 0

Senate vote • 4/10/2025

FLOOR VOTE: as Amended Third Consideration 4/10/2025

Yes: 31 • No: 0

Senate vote • 4/2/2025

SENATE STATE & LOCAL GOVERNMENT COMMITTEE

Yes: 8 • No: 1

Actions Timeline

  1. Pub. Ch. 382

    5/13/2025

  2. Effective date(s) 07/01/2025

    5/13/2025

  3. Signed by Governor.

    5/5/2025Senate

  4. Transmitted to Governor for action.

    4/23/2025Senate

  5. Enrolled and ready for signatures

    4/22/2025Senate

  6. Signed by Senate Speaker

    4/22/2025Senate

  7. Signed by H. Speaker

    4/22/2025House

  8. Subst. for comp. HB.

    4/16/2025House

  9. Am. withdrawn. (Amendment 1 - HA0423)

    4/16/2025House

  10. Passed H., Ayes 89, Nays 0, PNV 0

    4/16/2025House

  11. Rcvd. from S., held on H. desk.

    4/14/2025House

  12. Senate adopted Amendment (Amendment 1 - SA0337)

    4/10/2025Senate

  13. Passed Senate as amended, Ayes 31, Nays 0

    4/10/2025Senate

  14. Engrossed; ready for transmission to House

    4/10/2025Senate

  15. Sponsor(s) Added.

    4/10/2025Senate

  16. Placed on Senate Regular Calendar for 4/10/2025

    4/8/2025Senate

  17. Recommended for passage with amendment/s, refer to Senate Calendar Committee Ayes 8, Nays 1 PNV 0

    4/2/2025Senate

  18. Action deferred in Senate State and Local Government Committee to 4/2/2025

    4/1/2025Senate

  19. Placed on Senate State and Local Government Committee calendar for 4/2/2025

    4/1/2025Senate

  20. Placed on Senate State and Local Government Committee calendar for 4/1/2025

    3/26/2025Senate

  21. Passed on Second Consideration, refer to Senate State and Local Government Committee

    2/12/2025Senate

  22. Introduced, Passed on First Consideration

    2/10/2025Senate

  23. Filed for introduction

    2/5/2025Senate

Bill Text

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