New Jersey A2962 specifies compensation for property condemned for use by profit-making entities.
New Jersey A2962 amends eminent domain law to ensure fair compensation for property condemned for use by profit-making entities. The bill requires compensation for damages to adjacent and nearby properties, including impeded access, interference with resource extraction, and impacts on groundwater and views. It also mandates compensation for loss of fair market value due to public perception and compliance burdens. The fair market value of the condemned property must consider its intended use and revenue potential.
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