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IN HB1411
Bill
Status
4/24/2019
Primary Sponsor
David Wolkins
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AI Summary
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Expands the 150% fair market value compensation requirement for eminent domain acquisitions to cover all residential property (single-family dwellings not owned for business resale/rental purposes), not just owner-occupied residences, for proceedings initiated after June 30, 2019.
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Defines "residential property" as a single-family dwelling not owned for resale, rental, or leasing in the ordinary course of business, plus the land on which it sits.
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Agricultural land owners continue to receive 125% of fair market value, or may opt for transfer of equal-acreage agricultural land if both parties agree.
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All eminent domain compensation includes payment of other damages, business losses attributable to the condemnation, and relocation costs.
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Effective date is July 1, 2019, with transitional provisions preserving the prior owner-occupied requirement only for proceedings already initiated with fair market value determined before that date.
Legislative Description
Eminent domain for nonpublic uses. Amends the statute concerning the use of eminent domain to acquire real property for nonpublic uses to provide that the requirement that a condemnor compensate the owner of residential property acquired under the statute in the amount of 150% of the fair market value of the property applies: (1) only to residential property occupied by the owner as a residence, in the case of an eminent domain proceeding: (A) initiated before July 1, 2019; and (B) with respect to which the fair market value of the parcel has been determined before July 1, 2019; and (2) to all residential property, regardless of whether the property is occupied by the owner as a residence, in the case of an eminent domain proceeding initiated: (A) after June 30, 2019; or (B) before July 1, 2019, and with respect to which the fair market value of the parcel has not been determined before July 1, 2019. Defines "residential property" for purposes of the statute.
Last Action
Public Law 88
4/24/2019