Bill Text: MS SB2023 | 2022 | Regular Session | Introduced
Bill Title: Eminent domain; provide compensation for the loss of a business's goodwill.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2022-02-01 - Died In Committee [SB2023 Detail]
Download: Mississippi-2022-SB2023-Introduced.html
MISSISSIPPI LEGISLATURE
2022 Regular Session
To: Judiciary, Division A
By: Senator(s) Hill
Senate Bill 2023
AN ACT TO PROVIDE THAT THE OWNER OF A BUSINESS CONDUCTED ON A PROPERTY TAKEN UNDER THE POWER OF EMINENT DOMAIN SHALL BE COMPENSATED FOR THE LOSS OF GOODWILL UNDER CERTAIN CONDITIONS; TO PROVIDE THAT ANY OWNER OF A BUSINESS WHO IS COMPENSATED UNDER THIS ACT SHALL CONFIDENTIALLY PROVIDE A COURT WITH THE STATE TAX RETURNS OF THE BUSINESS IN ORDER TO DETERMINE THE AMOUNT OF COMPENSATION UNDER THIS ACT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) The owner of a business conducted on the property, or on the remainder if the property is part of a larger parcel, taken under the power of eminent domain shall be compensated for loss of goodwill if the owner proves all of the following:
(a) The loss is caused by the taking of the property or the injury to the remainder;
(b) The loss cannot reasonably be prevented by a relocation of the business or by taking steps and adopting procedures that a reasonably prudent person would take and adopt in preserving the goodwill; and
(c) Compensation for the loss will not be duplicated in the compensation otherwise awarded to the owner from any other public or private source.
(2) Nothing in this act authorizes compensation for inverse condemnation claims for temporary interference with or interruption of business.
(3) As used in this act, "goodwill" means the benefits that accrue to a business as a result of its location, reputation for dependability, skill or quality, and any other circumstances resulting in probable retention of old or acquisition of new patronage.
SECTION 2. The owner of a business who claims compensation under this act shall make available to the court, and the court shall, upon such terms and conditions as will preserve their confidentiality, make available to the plaintiff, the state tax returns of the business for audit for confidential use solely for the purpose of determining the amount of compensation under this act. Nothing in this section affects any right a party may otherwise have to discovery or to require the production of documents, papers, books and accounts.
SECTION 3. This act shall take effect and be in force from and after July 1, 2022.
