Tennessee Code 54-5-1402 – Right – of – way acquisitions requiring special approval

Notwithstanding any other law to the contrary, proposed payment shall be approved by the commissioner of finance and administration and the comptroller of the treasury:

(1) If the property is proposed for acquisition for right-of-way under the authority of this chapter;

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Terms Used In Tennessee Code 54-5-1402

Commissioner: means the commissioner of transportation. See Tennessee Code 54-5-103
Department: means the department of transportation. See Tennessee Code 54-5-103
Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
Property: includes both personal and real property. See Tennessee Code 1-3-105

(2) If:

(A) The appraised value of a parcel of land along the right-of-way exceeds one hundred thousand dollars ($100,000); or

(B) The appraised value of all parcels of land owned by any one (1) person, family or entity along the right-of-way exceeds one hundred thousand dollars ($100,000); and

(3) If the department proposes to pay more than ten percent (10%) above the current appraised value.

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Tennessee Code 54-5-1402 – Right – of – way acquisitions requiring special approval

Terms Used In Tennessee Code 54-5-1402

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