Motor Vehicles - As enacted, provides that a motor vehicle dealer license is not required to sell or purchase certain antique vehicles or unique motor vehicles through an auction being held at a venue with a permanent se, the official text

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~tate of m;ennessee

                          PUBLIC CHAPTER NO. 540

                                                   HOUSE BILL NO. 974

                   By Representatives McCalmon, Lynn, Boyd, Marsh, Travis, Hale

                                       Substituted for: Senate Bill No. 1069

                                               By Senators Pody, Powers

         AN ACT to amend Tennessee Code Annotated, Title 55, Chapter 17 and Title 62,
Chapter 19, relative to auctions of motor vehicles.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:

         SECTION 1. Tennessee Code Annotated, Section 55-17-120, is amended by adding the
following as a new subsection:

                    ()

                             (1) Notwithstanding this part, a motor vehicle dealer license is not
                   required to sell or purchase a previously titled antique vehicle that is at least
                   twenty-five (25) years of age or a unique motor vehicle through an auction format
                   if:

                                       (A) The auction is being held at a venue with a permanent seating
                             capacity of at least twenty thousand (20,000), located in a county with a
                             population of not less than one hundred forty-seven thousand seven
                             hundred (147,700) and not more than one hundred forty-seven thousand
                             eight hundred (147,800), according to the 2020 federal census or any
                             subsequent census;

                                       (B) The auction operator conducts no more than one (1) auction in
                             this state per year;

                                       (C) The auction offers no less than four hundred (400) vehicles
                             and no more than two thousand (2,000) vehicles for any one (1) auction;
                             and

                                       (D) The auction operator has a minimum net worth of twenty-five
                             million dollars ($25,000,000).

                             (2) This subsection ( ) is deleted on June 30, 2027, unless reenacted or
                   extended by the general assembly prior to that date.

         SECTION 2. Tennessee Code Annotated 1 Section 62-19-128, is amended by adding the
following as a new subsection:

                    ()

                             (1) Notwithstanding subdivision (b)(9), a motor vehicle dealer license is
                   not required to sell or purchase a previously titled antique vehicle that is at least
                   twenty-five (25) years of age or a unique motor vehicle through an auction format
                   if:

                                       (A) The auction is being held at a venue with a permanent seating
                             capacity of at least twenty thousand (20,000), located in a county with a
                             population of not less than one hundred forty-seven thousand seven
                             hundred (147,700) and not more than one hundred forty-seven thousand
                             eight hundred (147,800), according to the 2020 federal census or any
                             subsequent census;
HB974
                                        (8) The auction operator conducts no more than one (1) auction in

                              this state per year;
                                        (C) The auction offers no less than four hundred (400) vehicles

                              and no more than two thousand (2,000) vehicles for any one (1) auction;
                              and

                                        (D) The auction operator has a minimum net worth of twenty-five
                              million dollars ($25,000,000).
                              (2) This subsection ( ) is deleted on June 30, 2027, unless reenacted or
                    extended by the general assembly prior to that date.
          SECTION 3. This act takes effect upon becoming a law, the public welfare requiring it.

                                                                 2
                    HOUSE BILL NO. 974

PASSED:  February 12, 2026

                            CAMERON SEXTON, SPEAKER
                            HOUSE OF REPRESENTATIVES

                                         RANDY NfCNALLY
                            SPEAKER OF THE SENATE

APPROVED this :Jo1L day of F-e-b\'.LM~.M.1  2026

BILL LEE, GOVERNOR