Bill Summary – FastDemocracy

General Assembly                       Raised Bill No. 444
       February Session, 2020                LCO No. 2712
     Referred to Committee on JUDICIARY
     Introduced by:
       (JUD)
 AN ACT CONCERNING COMPENSATION PAID TO A PROPERTY
 OWNER WHOSE REAL PROPERTY IS TO BE ACQUIRED BY
 EMINENT DOMAIN.
 Be it enacted by the Senate and House of Representatives in General
 Assembly convened:
1         Section 1. (NEW) (Effective October 1, 2020) (a) As used in this section,
2      "agency" has the same meaning as "public agency" or "agency", as
3      provided in section 1-200 of the general statutes.
 4        (b) Notwithstanding any provision of the general statutes, on and
 5     after October 1, 2020, for any real property to be acquired by eminent
 6     domain pursuant to any provision of the general statutes, the agency
 7     shall require that two independent appraisals of the real property be
 8     conducted in accordance with this subsection. Each appraisal shall be
 9     conducted by a state-certified real estate appraiser without consultation
10     with the appraiser conducting the other independent appraisal, and
11     shall be conducted in accordance with generally accepted standards of
12     professional appraisal practice as described in the Uniform Standards of
13     Professional Appraisal Practice issued by the Appraisal Standards
14     Board of the Appraisal Foundation pursuant to Title XI of FIRREA and
 LCO No. 2712                                                                1 of 2
15   any regulations adopted pursuant to section 20-504 of the general
16   statutes. Each appraiser shall provide a copy of the appraisal to the
17   agency and the property owner. The amount of compensation for such
18   real property shall be equal to one hundred twenty-five per cent of the
19   average of the amounts determined by the two independent appraisals.
      This act shall take effect as follows and shall amend the following
      sections:
      Section 1           October 1, 2020                        New section
     Statement of Purpose:
     To provide that the amount of compensation for real property that is
     acquired by eminent domain shall be one hundred twenty-five per cent
     of the fair market value of such property as determined by two
     independent appraisals.
     [Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except
     that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not
     underlined.]
     LCO No. 2712                                                                                        2 of 2