Bill Text: NY A10972 | 2019-2020 | General Assembly | Introduced
Bill Title: Relates to the acquisition of real property by eminent domain and the methods for calculating compensation for such acquisition.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2020-09-09 - referred to local governments [A10972 Detail]
Download: New_York-2019-A10972-Introduced.html
STATE OF NEW YORK ________________________________________________________________________ 10972 IN ASSEMBLY September 9, 2020 ___________ Introduced by COMMITTEE ON RULES -- (at request of M. of A. Griffin) -- read once and referred to the Committee on Local Governments AN ACT to amend the town law, in relation to the acquisition of real property by eminent domain The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Section 64 of the town law is amended by adding a new 2 subdivision 2-b to read as follows: 3 2-b. Acquisition of real property by eminent domain. a. Notwithstand- 4 ing any provision of the eminent domain procedure law to the contrary, 5 in any proceeding brought pursuant to subdivision two of this section, 6 title shall vest in the town and compensation shall be paid only: 7 1. upon a decision by the state supreme court that compensation for 8 the real property so condemned shall be determined solely by the income 9 capitalization method of valuation, based on the actual net income as 10 allowed by the public service commission; and 11 2. upon such court's determination of the amount of such compensation, 12 based upon the income capitalization method, entry of the final judg- 13 ment, filing of the final decree, and the conclusion of any appeal or 14 expiration of the time to file an appeal related to the condemnation 15 proceeding. 16 b. If any court shall utilize any method of compensation other than 17 the income capitalization method, or if the proposed compensation is 18 more than the rate base of the assets taken in condemnation as utilized 19 by the public service commission in setting rates and as certified by 20 the public service commission, the town may withdraw the condemnation 21 proceeding without prejudice or costs to any party. 22 § 2. Section 215 of the town law is amended by adding a new subdivi- 23 sion 5-a to read as follows: 24 5-a. a. Notwithstanding any provision of the eminent domain procedure 25 law to the contrary, in any proceeding brought pursuant to subdivision 26 five of this section, title shall vest in the district and compensation 27 shall be paid only: EXPLANATION--Matter in italics (underscored) is new; matter in brackets [] is old law to be omitted. LBD17028-02-0A. 10972 2 1 1. upon a decision by the state supreme court that compensation for 2 the real property so condemned shall be determined solely by the income 3 capitalization method of valuation, based on the actual net income as 4 allowed by the public service commission; and 5 2. upon such court's determination of the amount of such compensation, 6 based upon the income capitalization method, entry of the final judg- 7 ment, filing of the final decree, and the conclusion of any appeal or 8 expiration of the time to file an appeal related to the condemnation 9 proceeding. 10 b. If any court shall utilize any method of compensation other than 11 the income capitalization method, or if the proposed compensation is 12 more than the rate base of the assets taken in condemnation as utilized 13 by the public service commission in setting rates and as certified by 14 the public service commission, the district may withdraw the condemna- 15 tion proceeding without prejudice or costs to any party. 16 § 3. This act shall take effect immediately.