Indiana SB0216 amends eminent domain laws to include compensation for business losses resulting from property condemnation.

Indiana SB0216 amends the Indiana Code to include provisions for compensating business owners for losses incurred due to eminent domain proceedings. Specifically, it mandates that if a business is damaged by a taking, condemnation, or eminent domain proceeding, the owner must be compensated for the loss of the business's going concern, unless the condemnor can prove the loss was not caused by the property taking. The bill also specifies that a municipality cannot use alternative condemnation procedures if notified of the owner's intent to claim compensation for business losses.

Indiana SB0216 amends eminent domain laws to include compensation for business losses resulting from property condemnation.

Indiana SB0216 amends the Indiana Code to include provisions for compensating business owners for losses incurred due to eminent domain proceedings. Specifically, it mandates that if a business is damaged by a taking, condemnation, or eminent domain proceeding, the owner must be compensated for the loss of the business's going concern, unless the condemnor can prove the loss was not caused by the property taking. The bill also specifies that a municipality cannot use alternative condemnation procedures if notified of the owner's intent to claim compensation for business losses.