MS SB2085

Requires business owners whose property is taken through eminent domain to receive compensation for loss of goodwill if they prove the loss was caused by the taking, could not be prevented by relocation or reasonable preservation efforts, and will not be duplicated from other sources.

Defines "goodwill" as benefits accruing to a business from its location, reputation, skill or quality, and other circumstances resulting in retention of existing or acquisition of new customers.

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

Requires business owners claiming compensation to provide state tax returns to the court confidentially for use in determining the compensation amount, while preserving existing discovery rights.

Effective date: July 1, 2023.