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1997 SESSION

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HB 1984 Rate of interest paid in highway condemnation cases.

Introduced by: Glenn R. Croshaw | all patrons    ...    notes | add to my profiles

SUMMARY:

Rate of interest paid in highway condemnation cases. Raises the rate of interest paid on the excess of the award over the certificate on deposit in highway condemnation cases to 8%, the rate existing prior to July 1, 1994. This rate is the same as that for general condemnation proceedings. The current highway condemnation rate (the general composite rate as determined by the Treasurer of Virginia) is less than the rate paid in general condemnation cases. This amendment would make the rates equal.


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