Virginia HB421 addresses lost profits for businesses or farm operations due to eminent domain of public waterworks systems.
Virginia HB421 outlines the process for determining lost profits for businesses or farm operations when public waterworks systems are condemned through eminent domain. The bill specifies that lost profits can be considered if the loss is not preventable by relocation or other reasonable measures, is not included in relocation assistance, and is not duplicated in other compensation. The determination of lost profits must consider the difference in water service rates between the condemning authority and the property owner.
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