CT HB05454

Requires agencies to conduct two independent appraisals by state-certified real estate appraisers when acquiring real property by eminent domain or condemnation under specified statutes.

Sets compensation equal to the greater of: (A) the average of the two independent appraisals, or (B) the assessed value according to the most recent grand list.

Increases compensation to 125 percent of the average appraisal amount for properties acquired by eminent domain under section 8-193 or condemnation under section 32-224.

Provides an additional 5 percent increase in compensation for each year (from year six through year ten) when acquiring multiple properties within 1,000 feet under the same redevelopment or development plan with five or more years between acquisitions.

Exempts projects funded wholly or partly by federal funds from these provisions if such provisions are prohibited by federal law; effective October 1, 2012.