The Tennessee General Assembly continues its 2025 session with significant legislation impacting the real estate industry. As the session intensifies, several bills relevant to the Tennessee REALTORS® are advancing through committees.

• SJR1/HJR2: Proposes adding language to Article II, Section 28, to prohibit the General Assembly from enacting a state property tax passed the Senate floor receiving the necessary 2/3 approval with a vote of 26-5-1.  HJR2 will be considered in the House Finance Committee this coming week. Tennessee REALTORS® supports this legislation and is part of the coalition working to pass it.
  
  
• HB700/SB886: Requires principal brokers, regardless of license year, to obtain 16 hours of continuing education every 2 years if they oversee affiliate brokers. This legislation was signed into law by the Governor on April 3, 2025 and has an effective date of January 1, 2026.  This legislation is a Tennessee REALTORS® initiative.  
  
  
• SB909/HB781: Defines “equitable interest” and wholesaling. Permits buyers under contract to wholesale real estate, provided they disclose key information to sellers and subsequent purchasers. This legislation has been signed by the Governor and is now in effect. This legislation is a Tennessee REALTORS® initiative.
  
  
• HB526/SB752: Exempts real estate professionals from the business tax, reducing the financial burden on industry professionals. This legislation was placed “behind the budget” in the House Finance, Ways, & Means Subcommittee due to it’s almost $6 million dollar fiscal note.  This legislation is a Tennessee REALTORS® initiative but is subject to funding by the legislature. 

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