IN SB0216

Local government units that provide forgivable loans must allow business owners to claim compensation for "loss of going concern" when their property is condemned through eminent domain proceedings filed after March 31, 2026

"Going concern" is defined as business benefits from location, reputation, customer base, good will, and other factors affecting customer retention or acquisition

Business owners must notify the court of intent to claim going concern compensation within 90 days of receiving condemnation notice; at least one court-appointed appraiser must be qualified to assess going concern losses

The condemning authority bears the burden of proving by preponderance of evidence that losses were not caused by the taking, could be reasonably prevented by relocation, or would duplicate other compensation

Notice period for property acquisition proceedings increases from 30 to 45 days; the bill takes effect immediately upon passage