NY A05965

Requires condemnors to prepare comprehensive economic development plans and homeowner impact assessments when acquiring homes or dwellings for economic development projects, with mandatory public hearings and local legislative approval

Increases compensation for homeowners displaced by economic development projects to a minimum of 150% of fair market value, with displaced renters receiving at least 150% of annual rent

Extends the deadline to challenge eminent domain determinations from 30 days to 90 days, with an additional 90 days if the project scope is substantially altered

Grants local legislative bodies authority to approve or disapprove eminent domain actions by not-for-profit corporations, municipal agencies, and public authorities by majority vote

Creates a 13-member temporary state commission on eminent domain reform to examine constitutional standards for condemnation proceedings and procedural fairness, with $100,000 appropriated and a report due within one year