SB1027 - Tennessee: Surplus Property, Transportation, Dept. Of

Companion Bill HB1203. Surplus Property - Modifies the procedures for the department of transportation's disposition of real property that was intended for use as right-of-way. - Amends TCA Section 12-2-112. Fiscal Summary for *SB1027 / HB1203Increase State Expenditures - Not Significant Bill Summary for *SB1027 / HB1203 Present law establishes the methods by which the commissioner of finance and administration, with the approval of the governor and attorney general and reporter, may sell, lease or otherwise convey any interest in surplus state real property. One such provision is that all interests in real property other than the fee interest, including, but not limited to, leases, easements and rights-of-way, must be disposed of in accordance with policies established by the state building commission, including advertisement and appraisal where [...]

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