A 2962 New Jersey General Assembly · 2026-2027 Regular Session

Specifies just compensation when property is condemned for use by profit-making entity.

This bill requires that when a profit-making entity (like a private company) uses eminent domain to take property, compensation must reflect the property's intended use and revenue potential. It mandates payment for damages to nearby properties, including issues like impaired access, groundwater impacts, noise, and loss of value due to public perception. The bill also requires compensation for consequential damages (such as broken contracts or maintenance costs) and obligates the entity to cover the property owner's legal fees if awarded compensation exceeds their final offer by 10% or more. If the entity fails to meet conditions for taking property, the land automatically reverts to the original owner.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2026
Committee Review
Floor Vote
Governor
Introduced Jan 13, 2026 Last action Jan 13, 2026
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Jan 13, 2026
Introduced
Introduced, Referred to Assembly Housing Committee
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Erik Peterson
Erik Peterson
RRepublican
NJ
23