HB1511 (2006) Detail

Relative to business replacement costs resulting from government program displacement.


HB 1511 – AS INTRODUCED

2006 SESSION

06-2589

01/04

HOUSE BILL 1511

AN ACT relative to business replacement costs resulting from government program displacement.

SPONSORS: Rep. Wendelboe, Belk 1

COMMITTEE: Judiciary

ANALYSIS

This bill requires displacing agencies under RSA 124-A to pay the replacement costs of businesses displaced by government programs.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

06-2589

01/04

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Six

AN ACT relative to business replacement costs resulting from government program displacement.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Statement of Intent. The general court recognizes that the displacement of businesses by eminent domain takings can result in the closure of those businesses. The primary purpose of this act is to ensure that the adverse impacts of displacement to businesses are minimized or eliminated.

2 New Section; Relocation Assistance and Real Property Acquisition; Replacement Costs for Businesses. Amend RSA 124-A by inserting after section 5 the following new section:

124-A:5-a Replacement Costs for Businesses.

I. In addition to any other payments authorized by this chapter, the displacing agency shall make an additional payment to any business which is a displaced person as defined in RSA 124-A:2, IV. The payment shall consist of an amount equal to the replacement cost of the business. “Replacement cost” shall mean the present value cost, as documented by competent evidence, to replace the business property for the displaced person, taking into account all reasonable matters of significance to the property for the uses to which the property was able to lawfully be used at the time of the displacement, including such matters as lot size, location, highway access, zoning laws, public or private utilities, and building and facility reproduction. “Replacement cost” shall include but not be limited to the lesser of the following:

(a) The costs associated with the design and construction of any new buildings which are reasonably suitable for the continuation of the business in a fashion as close as possible to the operation of the business prior to the displacement; or

(b) The costs associated with the purchase and renovation of any building which is reasonably comparable to the displaced property, is in a reasonably similar location, and is reasonably suitable for the continuation of the business in a fashion as close as possible to the operation of the business prior to the displacement.

II. The business may choose in lieu of this payment to be paid the fair market value of the property as provided in RSA 498-A:25.

3 Effective Date. This act shall take effect 60 days after its passage.