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.
                                                                   LBD17028-02-0

        A. 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.
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