Replaces certain fixed interest rate award in eminent domain cases with interest rate based on just compensation awards.

This bill replaces the current fixed interest rate (6% per annum) or "legal rate" used in eminent domain cases with a court-determined interest rate. Under the bill, courts would calculate interest after final compensation determination, considering factors like prevailing commercial rates, prime rates, and rates that fairly compensate property owners for loss of use of their property. The change would apply to all eminent domain cases where compensation is being determined. This makes interest calculations more flexible and potentially more reflective of current market conditions, directly affecting property owners and government entities involved in eminent domain proceedings.