Bill > SB0216

This bill, effective upon passage and applying to condemnation proceedings filed after March 31, 2026, introduces new provisions regarding compensation for business losses when a unit of local government, defined as a unit under IC 36-1-8-20.5, uses its power of eminent domain to acquire property. Eminent domain is the government's power to take private property for public use, with just compensation. The bill establishes that if such a unit provides forgivable loans, it must, as a condition of offering these loans, ensure that a person operating a business on a property may be entitled to compensation for business losses resulting from the condemnation of that property, specifically for the loss of a "going concern," which refers to the benefits a business derives from its location, reputation, customer base, and goodwill. This compensation for the loss of a going concern will be determined by appraisers as part of the overall compensation awarded, and owners must notify the court of their intent to claim such compensation within ninety days of the initial notice of condemnation. The bill also amends existing laws to integrate these new provisions, including requiring appraisers to be qualified to assess going concern losses and ensuring that if a business owner intends to claim this compensation, the condemning authority must proceed under the general eminent domain law (IC 32-24-1) rather than a more specific municipal acquisition process.

Budget and Finance, Government Affairs

https://iga.in.gov/legislative/2026/bills/senate/216/details