SB539 SFA Romano 3-1 #1

Baker 7816

Senator Romano moved to amend the bill on page two, section fourteen-a, lines twenty-six through thirty-two, by striking out all of subsection (c) and inserting in lieu thereof a new subsection, designated subsection (c), to read as follows:

(c) With respect to minerals, the calculation of fair market value shall follow the common law of this state:  Provided, That to the extent limestone, gravel, rock, clay, sand, chalk and all other similar minerals generally found near the surface are sought to be compensated for, the owners shall be compensated for by considering the production and marketing costs, as well as the market and demand for the minerals.  Provided however, the use of limestone, gravel, rock, clay, sand, chalk, or other similar minerals by the State or its political subdivisions for the project for which the land is taken is inadmissible and shall be excluded from this calculation of fair market value.

Adopted

Rejected