Section 14-39-1-9 - Compensation for exercise of eminent domain by pipeline company A carbon dioxide transmission pipeline company that exercises the authority set forth in section 7(a) of this chapter shall:
(1) compensate the property owner by making a payment to the owner equal to:(A) one hundred twenty-five percent (125%) of the fair market value of the interest in the property acquired, if the right-of-way or easement involves agricultural land; or(B) one hundred fifty percent (150%) of the fair market value of the interest in the property acquired, if the right-of-way or easement involves a parcel of property occupied by the owner as a residence; and(2) pay to the property owner: (A) any damages determined under IC 32-24-1; and(B) any loss incurred in a trade or business; that are attributable to the exercise of eminent domain.
Amended by P.L. 291-2019,SEC. 8, eff. 7/1/2019.Added by P.L. 150-2011, SEC. 18, eff. 5/10/2011.