HB 291 Eminent domain; compensation for loss of goodwill and lost profits.
Robert F. McDonnell | all patrons    ...    notes
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Summary as introduced:
Eminent domain; compensation for loss of goodwill and lost profits. Entitles the owner of business property that is taken by eminent domain to be compensated for goodwill and for lost profits. Goodwill consists of the benefits that accrue to a business as a result of its location, reputation for dependability, skill, or quality, and any other circumstances resulting in probable retention of old or acquisition of new patronage. To be compensable, the lost profits must be from an established business with a proven earning capacity, and the owner must produce sufficient evidence to permit the trier of fact to estimate the lost profits with reasonable certainty.

Full text:
01/09/02  House: Presented & ordered printed, prefiled 01/07/02 027207836  pdf | impact statement

Status:
01/09/02  House: Presented & ordered printed, prefiled 01/07/02 027207836
01/09/02  House: Referred to Committee on General Laws
01/25/02  House: Assigned to General Laws sub-committee: 1
01/31/02  House: Continued to 2003 in General Laws (22-Y 0-N)