Housing (Affordable Housing)

SB 244 would change Tennessee's housing law to require that affordable housing units built under the state's voluntary attainable housing program remain restricted for at least 30 years, rather than indefinitely. This applies specifically to multi-family housing developments constructed through this incentive program. The bill amends existing law by replacing the phrase "in perpetuity" with "for at least thirty (30) years" in the deed restriction requirement. This adjustment shortens the mandatory affordability period while maintaining a significant commitment to long-term accessible housing.

HB 396 would change Tennessee's housing law by shortening the required deed restriction period for affordable multi-family housing built under voluntary incentive programs. Instead of requiring affordability "in perpetuity," the bill would limit these restrictions to at least 30 years. This directly affects developers and property owners participating in the state's attainable housing incentive program. The bill failed in committee on February 19, 2025, and did not advance further. (Amends TCA Title 13, Chapter 3, Section 13-3-603(f).)