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F I S C A L I M P A C T R E P O R T





SPONSOR: Sanchez, M. DATE TYPED: 02/06/01 HB
SHORT TITLE: Rate of Interest in Condemnation Proceedings SB 103
ANALYST: Eaton


REVENUE



Estimated Revenue
Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY01 FY02
Indeterminate



(Parenthesis ( ) Indicate Revenue Decreases)



SOURCES OF INFORMATION



Administrative Office of the Courts (AOC)

Attorney General's Office



SUMMARY



Synopsis of Bill



This bill changes the amount of interest which may be collected from public entities authorized to exercise eminent domain and condemn property. This bill would change the amount of interest on an award of "just compensation" paid to a condemnee from 8 percent to 10 percent. This is interest on the unpaid portion of a compensatory award from the date that the petition for condemnation is filed.



Significant Issues



Condemnation actions may become more costly for governmental entities authorized to exercise eminent domain.



FISCAL IMPLICATIONS



The agencies are unable to determine the impact this bill may have.



JBE/ar