S 3089 New Jersey Senate · 2026-2027 Regular Session

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

This bill changes how interest is calculated for property owners when the government takes land through eminent domain in New Jersey. Currently, a fixed interest rate applies to compensation; this bill replaces that with an interest rate tied to the final just compensation award. It directly affects property owners whose land is condemned by government authorities. The key change modifies Section 9 of New Jersey's eminent domain law to base interest payments on the actual final compensation amount determined in court, rather than a set rate. This aims to align interest payments more closely with the property's true value.
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 in the Senate, Referred to Senate Community and Urban Affairs Committee
upper
1 primary · 0 co-sponsors

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Legislator
Party
State
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P
Photo of Benjie Wimberly
Benjie Wimberly
DDemocratic
NJ
35