MS SB2088

Requires compensation for loss of goodwill to business owners whose property is taken through eminent domain, if they prove the loss was caused by the taking, cannot be prevented by relocation, and is not duplicated by other compensation sources

Defines "goodwill" as benefits accruing to a business from its location, reputation for dependability, skill, quality, and other circumstances that retain existing customers or attract new ones

Excludes compensation for inverse condemnation claims involving temporary business interference or interruption

Requires business owners seeking goodwill compensation to confidentially submit state tax returns to the court for audit purposes to determine compensation amounts

Effective date of July 1, 2021