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1997 SESSION

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HB 2124 Rate of interest paid in highway condemnation cases.

Introduced by: William S. Moore, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Condemnation by Commonwealth Transportation Commissioner; interest rate. Changes interest rate paid on VDOT condemnations from a composite rate to eight percent annually and replaces a composite interest rate with a flat rate of eight percent when determining the amount to be paid in a condemnation suit when the condemnation award exceeds the amount deposited by the condemning entity. This amendment has the effect of reversing the 1994 amendments made to these sections thereby conforming the interest rate provisions to similar provisions found in the general condemnation statutes of Title 25.

FULL TEXT

• 01/15/97  House: Presented & ordered printed 973586360  pdf

HISTORY

• 01/15/97  House: Presented & ordered printed 973586360
• 01/15/97  House: Referred to Committee on Transportation
• 02/01/97  House: Stricken from docket by Tra. (22-Y 0-N)