Bill > S06187

This bill, known as the "Eminent Domain Reform Act," introduces significant changes to how local governments and agencies can use eminent domain, particularly for economic development projects involving residential properties. The bill requires local legislative bodies to approve or disapprove any use of eminent domain by majority vote, with potential additional review by the locality's chief executive officer. It defines specific terms such as "economic development project," "home" (owner-occupied residential premises with up to six dwelling units), and "dwelling" (non-owner-occupied residential premises with up to thirty units). For economic development projects that involve acquiring homes or dwellings, the bill mandates the preparation of a comprehensive economic development plan, which must include expected benefits like increased tax revenue or job creation, and must undergo a public hearing process. Additionally, the bill requires a homeowner impact assessment that compares the harm to displaced residents with potential community benefits. In cases where homes or dwellings are acquired for economic development, the bill mandates that property owners must be compensated at least 150% of the fair market value, and displaced residents must receive at least 150% of their annual rent. The bill also extends the judicial review period for challenging eminent domain determinations from 30 to 90 days and allows for an additional 90-day review period if the project's scope is substantially altered.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S6187