LD 1207 LR 1468(02)
An Act To Base the Value of Eminent Domain Takings on Going Concern Value
Fiscal Note for Bill as Amended by Committee Amendment "   "
Committee: Judiciary
Fiscal Note Required: Yes
Fiscal Note
2009-10 2010-11 Projections 2011-12 Projections 2012-13
Net Cost (Savings)
General Fund $138,113 $184,150 $184,150 $184,150
Highway Fund $927,200 $840,500 $840,500 $840,500
General Fund $138,113 $184,150 $184,150 $184,150
Highway Fund $927,200 $840,500 $840,500 $840,500
Fiscal Detail and Notes
This legislation establishes criteria for determination of compensation for loss or impairment of the going concern value of a business when the property is taken by the Department of Transportation by eminent domain.  This bill includes a Highway Fund allocation of $927,200 in fiscal year 2009-10 and $840,500 in fiscal year 2010-11 for the Department of Transportation.  This amount includes expected increased legal fees due to this legislation, appraisal costs, consultant costs and training.  It also includes an estimated Capital Expenditures funding allocation of $300,000 per year for compensation of loss or impairment to businesses.  This estimate is based upon 10.7% of total acquisition cost.  This bill also includes a General Fund appropriation of $138,113 in fiscal year 2009-10 and $184,150 in fiscal year 2010-11 for the Executive Department to contract for business damage ombudsman services.