MS SB2044

Compensates business owners for loss of goodwill when property is taken under eminent domain, if the owner proves the loss was caused by the taking, could not be prevented by relocation or reasonable precautions, and is not duplicated by compensation from other sources.

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

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

Requires business owners claiming compensation to provide state tax returns to the court confidentially for determining the compensation amount, with protections to preserve confidentiality while allowing plaintiff access for this purpose.

Effective July 1, 2024.