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2018 SESSION

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SB 911 Eminent domain; redefines lost profits.

Introduced by: Amanda F. Chase | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Eminent domain; lost profits. The bill redefines lost profits for the purposes of calculating an award in an eminent domain proceeding as a loss of business profits from a business or farm operation for a period not to exceed three years from the date of valuation, regardless of the amount of property that is taken. Under current law, lost profits are calculated for a period not to exceed three years from the date of valuation if there is a partial taking of property and for a period not to exceed one year from the date of valuation if the entire parcel of property is taken. This bill was incorporated into SB 809.


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