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2012 SESSION
SB 437 Eminent domain; definitions of lost access and lost profits, determining compensation.
Introduced by: Mark D. Obenshain | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Eminent domain; lost profits and access. Provides definitions for the terms "lost profits" and "lost access" and how to determine the amount of just compensation, which includes lost profits and lost access resulting from the taking, that must be paid for property taken by eminent domain. The bill has a contingent effective date of January 1, 2013, provided that the voters approve an amendment to Section 11 of Article I of the Constitution of Virginia at the November 2012 election. This bill is identical to HB 1035.
SUMMARY AS INTRODUCED:
Eminent domain; lost profits and access. Provides definitions for the terms "lost profits" and "lost access" and how to determine the amount of just compensation, which includes lost profits and lost access resulting from the taking, that must be paid for property taken by eminent domain. The bill has a contingent effective date of January 1, 2013, provided that the voters approve an amendment to Section 11 of Article I of the Constitution of Virginia at the November 2012 election.