Real Property - As introduced, enacts the "Tennessee Private Property Vesting Rights of 2026," which entitles a property owner to just compensation from a public entity if the public entity enacts a land use regulation that has the effect of reducing the fair market value of the property. - Amends TCA Title 29, Chapter 16.

SB 1908, the "Tennessee Private Property Vesting Rights of 2026," requires public entities (like cities or counties) to pay property owners just compensation when new land use regulations reduce a property's fair market value. It exempts regulations related to public health/safety (e.g., building codes), federal requirements, or common nuisances. Property owners must submit a written demand within three years of the regulation's enactment and can choose either compensation or a modification of the regulation. This applies to properties acquired after the regulation's adoption, not to pre-existing rules.