Current Status Bill Number:
4575Type of Legislation: General Bill GBIntroducing Body: HouseIntroduced Date: 19980204Primary Sponsor: HarrisonAll Sponsors: Harrison and KlauberDrafted Document Number: dka\4761mm.98Companion Bill Number: 1046Residing Body: SenateCurrent Committee: Judiciary Committee 11 SJDate of Last Amendment: 19980325Subject: Property, condemnation of; eminent domain, appraisal defined to include certain replacement costs
Body Date Action Description Com Leg Involved ______ ________ _______________________________________ _______ ____________ Senate 19980327 Introduced, read first time, 11 SJ referred to Committee House 19980326 Read third time, sent to Senate House 19980325 Amended, read second time House 19980317 Request for debate by Representative Meacham Altman Young- Brickell Kirsh Moody- Lawrence Klauber Simrell Sandifer Allison Gamble Knotts House 19980312 Committee report: Favorable with 25 HJ amendment House 19980204 Introduced, read first time, 25 HJ referred to CommitteeView additional legislative information at the LPITS web site.
Indicates Matter Stricken
Indicates New Matter
March 25, 1998
S. Printed 3/25/98--H.
Read the first time February 4, 1998.
TO AMEND SECTION 28-2-30, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO DEFINITIONS FOR PURPOSES OF THE EMINENT DOMAIN PROCEDURE ACT, SO AS TO DEFINE "APPRAISAL" IN INSTANCES OF CONDEMNATION OF PROPERTY OF A REGULATED PRIVATELY OWNED WATER OR SEWER UTILITY TO PROVIDE THAT THE VALUATION FOR COMPENSATION PAYABLE FOR THE PROPERTY INCLUDE ALL APPROPRIATE VALUATIONS, INCLUDING THE REPLACEMENT COST, INCOME, AND SALES COMPARISON METHODS OF VALUATION.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 28-2-30(2) of the 1976 Code is amended to read:
"(2) 'Appraisal' means an opinion as to the value of compensation payable for property, prepared by or under the direction of an individual qualified by knowledge, skill, experience, training, or education to express an opinion as to the value of the compensation. An appraisal includes the assessment of general and specific benefits to the owner as offsets against any damages to the property. If the appraised property includes all or a substantial portion of the property of a regulated privately owned water or sewer utility, the opinion as to the value of compensation payable for the property must include all appropriate valuations, including the replacement cost, income, and sales comparison methods of valuation. Replacement cost is computed less depreciation and does not include contributions-in-aid-of construction."
SECTION 2. This act takes effect upon approval by the Governor.