Condemned Conservation Easement Property Compensation

The act specifies that if property encumbered by a conservation easement in gross is condemned through an eminent domain proceeding, and, as a result of the condemnation, the condemning authority is acquiring such property free and clear of the conservation easement interest or subordinating the deed of conservation easement to such acquired property interest, just compensation must be determined based on the value of the property as if unencumbered by the conservation easement in gross. The compensation must be allocated between the fee owner and the holder of the conservation easement based upon the value of their respective interests in the property.

(Note: This summary applies to this bill as enacted.)