Sec. 9. 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:

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Terms Used In Indiana Code 14-39-1-9

  • carbon dioxide: means a fluid consisting of more than ninety percent (90%) carbon dioxide molecules. See Indiana Code 14-39-1-1
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Property: includes personal and real property. See Indiana Code 1-1-4-5
(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.

As added by P.L.150-2011, SEC.18. Amended by P.L.291-2019, SEC.8.

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