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Under current law, entities which seek to seize private property through eminent domain are required to make a bona fide offer for voluntary transference of ownership. SB 740 would require that such offers be for at least 150 percent of the market value of the land; would require the disclosure of more information regarding land use and appraisal; create protections from liability for the original property owner; and require that courts show more preference to the property owner in legal proceedings.
This bill would also require the inclusion of information on a property owner's rights related to eminent domain in a landowner's bill of rights. Finally, this bill would require the Real Estate Commission to approve a "right-of-way agent responsibility course" on eminent domain law and property rights and would require class passage to meet certain continuing education requirements.