MS SB2023

Requires compensation for loss of goodwill to business owners when their property is taken through eminent domain, provided the loss is 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 affecting customer retention and acquisition

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

Mandates business owners claiming goodwill compensation to submit state tax returns to the court under confidential terms for determining compensation amounts

Effective date of July 1, 2022