CT HB06475

Requires two independent appraisals by state-certified real estate appraisers for any real property acquired by eminent domain or condemnation for redevelopment or development plans, effective October 1, 2013.

Sets compensation for acquired property at the average of the two appraisals, except property acquired under section 8-193 or 32-224 receives 125% of the average amount.

Establishes that compensation for property acquired under section 10-241a equals the greater of either the average appraisal amount or the property's assessed value on the most recent grand list.

Provides an additional 5% compensation increase per year (from years 6-10) when an agency acquires property within 1,000 feet of a previously acquired parcel five or more years after the first acquisition.

Exempts projects funded wholly or partially by federal funds from these provisions if they conflict with federal law.