CT HB05134

Requires agencies to conduct two independent appraisals by state-certified appraisers when acquiring real property by eminent domain or condemnation for redevelopment or development plans.

Sets compensation for acquired property at the average of the two appraisal amounts, except property acquired under section 8-193 receives 125% of the average amount.

Allows compensation for school property acquired under section 10-241a to equal either the average of two appraisals or the assessed value on the most recent grand list, whichever applies.

Provides an additional 5% increase in compensation for each year (from year 6 through year 10) when acquiring property within 1,000 feet of a previously acquired parcel if the acquisition occurs five or more years later.

Takes effect October 1, 2014 and applies to sections 8-129(a)(2) of the general statutes.