Relates to requiring financial reports for real property acquired by the state, including any agencies and authorities, through eminent domain
S 7081 requires state agencies, authorities, and local development corporations to submit detailed financial impact reports before acquiring real property through eminent domain for economic development projects. The report must analyze project costs and benefits, estimate three years of additional tax revenue, detail past assistance (loans/grants/tax benefits), and calculate future assistance value. This applies specifically to projects using eminent domain for economic development, as determined by courts. The law mandates these reports be reviewed by state agencies before contracts are finalized. It aims to provide transparency on fiscal impacts of state property acquisitions.
Bill status
in committee
1 of 4 stages cleared
Introduction
Apr 2025
Committee Review
Floor Vote
Governor
Introduced Apr 1, 2025
Last action Jan 7, 2026
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No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
2
Jan 7, 2026
Committee
REFERRED TO JUDICIARY
upper
Apr 1, 2025
Committee
REFERRED TO JUDICIARY
upper
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Leroy Comrie
DDemocratic
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