Replaces certain fixed interest rate award in eminent domain cases with interest rate based on just compensation awards.
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes to change how interest is calculated in eminent domain cases in New Jersey. Currently, a fixed interest rate is applied, but this bill would replace it with an interest rate based on the ‘just compensation’ awarded to property owners. This aims to better reflect the value lost when land is taken for public use, and provides a more equitable system for compensating affected individuals. The bill also includes provisions related to trust funds and court proceedings to ensure proper handling of compensation payments.
Bill text
Read the latest version inline or switch to a previous version.
Document of record
- Version
- Introduced
- Published
- Not published in the source record
This version is published only as a document. Open the viewer to read it here, or download the file.
Sponsors
Official sponsors from legislative records.
4 on record
Primary sponsors
Cosponsors
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours