HB 2855 - DIGEST

Provides that, if the final order of condemnation specifies that all or some of the appropriated property is to be sold or transferred by the state to a private party, or all or some of the appropriated property is later sold or transferred by the state to a private party within five years of the entry of the final condemnation order, then the respondent property owner is entitled to compensation in the amount of not less than one hundred thirty-five percent of the fair market value of any land, building, structure, or other property sold or transferred to the private party, as well as any other damages to which the respondent may be entitled. The calculation of fair market value shall be determined by reference to the fair market value of the property at the time of the entry of the final order of condemnation.