AN ACT relating to economic development.

SB 172 amends Kentucky's eminent domain law (KRS 154.50-323) to require government entities to clearly state the specific purpose for which condemned property will be used and prove that purpose in court. It mandates that condemned property must be developed within five years for the stated purpose, or the original owner can repurchase it at the government's purchase price. Property owners whose land is taken gain the right to reclaim it through court if development doesn't occur, plus recovery of costs and reasonable attorney fees. This bill directly affects landowners facing condemnation and government entities exercising eminent domain authority.