Taxes, Real Property - As introduced, increases exemption to a maximum of 400 acres for certain nonprofit entities. - Amends TCA Section 67-5-212.

SB 2054 amends Tennessee's property tax law to set a 400-acre maximum for tax exemptions on land owned by nonprofits operating a "premier type tourist resort," as defined in state law. This change directly affects qualifying nonprofits meeting the specific criteria under § 57-4-102(30)(LLLLLL), limiting their eligible tax-exempt land to 400 acres. The bill modifies Section 67-5-212 of the Tennessee Code Annotated to establish this cap, replacing any prior unlimited exemption for these entities. The policy change reduces the amount of land eligible for tax relief for these nonprofits, impacting their property tax obligations.