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2003 SESSION

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SB 713 Condemnation; interest.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Condemnation; interest. Provides for calculating interest in highway-related condemnation cases using the IRS's underpayment rate (§ 6621 (a)(2) of the Internal Revenue Code) instead of the general account's composite rate. This bill contains an emergency clause, and its provisions are retroactive to condemnation awards rendered or certificates of deposit recorded on or after October 1, 2002.


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