S.B.
190
ACQUISITION OF A BILLBOARD BY EMINENT DOMAIN
house floor
Amendments
Amendment 4 March 11, 2009 5:37 pm
Representative Craig A. Frank
proposes the following amendments:
1. Page
3, Line 77
Senate 2nd Reading Amendments
3-6-2009
:
77
(d)
{
(i)
}
If a municipality is considered to have initiated the acquisition of a billboard
2. Page
3, Line 80 through Page 4, Line 91
Senate 2nd Reading Amendments
3-6-2009
:
80
rights pertaining to the outdoor advertising] to the billboard owner .S in an amount that is
{
the
80a
greater of
}
:
81
{
(A)
}
(i)
the value of the
existing
billboard
{
in its present location; and
82
(B) the value that the billboard owner projects the billboard to have in the proposed
83
location for which the owner made application.
84
(ii) The just compensation that a municipality is required to pay under Subsection
85
(1)(d)(i) includes:
86
(A) the S. [consideration of the] present value,
}
at a fair market capitalization rate,
{
of
86a
the .S greater of:
87
(I)
}
based on
S. [past] actual annual .S revenue, less
any
S. annual .S rent expense;
{
and
88
(II) projected future S. annual .S revenue, less S. annual .S rent expense;
}
89
{
(B)
}
(ii) the value of
any S. [property] other .S right associated with the billboard
structure that is
89a
acquired;
90
{
(C)
}
(iii)
the cost of the sign structure; and
91
{
(D)
}
(iv)
damage to the economic unit S. [consisting of:
3. Page
6, Line 173
Senate 2nd Reading Amendments
3-6-2009
:
173
(d)
{
(i)
}
If a county is considered to have initiated the acquisition of a billboard structure
4. Page
6, Line 176 through Page 7, Line 185
Senate 2nd Reading Amendments
3-6-2009
:
176
to the outdoor advertising] to the billboard owner .S in an amount that is
{
the greater of
}
:
177
{
(A)
}
(i)
the value of the
existing
billboard
{
in its present location; and
178
(B) the value that the billboard owner projects the billboard to have in the proposed
179
location for which the owner made application.
180
(ii) The just compensation that a county is required to pay under Subsection (1)(d)(i)
181
includes:
182
(A) the S. [consideration of the] present value,
}
at a fair market capitalization rate,
{
of
182a
the .S greater of:
183
(I)
}
based on
S. [past] actual annual .S revenue, less
any
S. annual .S rent
expense;
{
and
184
(II) projected future S. annual .S revenue, less S. annual .S rent expense;
}
185
{
(B)
}
(ii) the value of
any S. [property] other .S right associated with the billboard
structure that is
5. Page
7, Lines 186 through 187
Senate 2nd Reading Amendments
3-11-2009
:
186
{
(C)
}
(iii)
the cost of the sign structure; and
187
{
(D)
}
(iv)
damage to the economic unit S. [consisting of:
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sb0190.hfa.04.wpd
LRGC
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