A BILL FOR AN ACT to amend the Indiana Code concerning property.

Plain English Breakdown

The bill summary does not provide detailed information on all aspects of the Hoosier Homestead Program, such as specific requirements for registration or consequences of losing status.

Hoosier Homestead Protection Act

This act establishes a program to recognize and protect family farms that have been owned by the same family for at least 100 years, providing them with special rights if their land is taken through eminent domain.

What This Bill Does

• Establishes the Hoosier Homestead Program run by the Indiana State Department of Agriculture.
• Registers portions of a farm that have been in the same family for over 100 years and meet certain requirements.
• Requires property taxes to be up-to-date for registration or renewal as a Hoosier homestead.
• Gives owners of registered Hoosier homesteads extra rights if their land is taken by eminent domain, including higher compensation and the right to speak at public meetings.

Who It Names or Affects

• Farm families who have owned their farms for over 100 years
• Government agencies that might take property through eminent domain

Terms To Know

Eminent Domain

The power of the government to take private property for public use, usually with compensation.

Fee Simple Interest

Ownership of land that is complete and can be sold or passed on without restrictions.

Limits and Unknowns

• The bill does not specify what happens if a family farm loses its Hoosier homestead status.
• It's unclear how the program will handle exceptions to the rules for eminent domain compensation.

Official Summary Text

A BILL FOR AN ACT to amend the Indiana Code concerning property.
Condemnation of Hoosier homestead property.

Current Bill Text

A BILL FOR AN ACT to amend the Indiana Code concerning property.

Condemnation of Hoosier homestead property.

Establishes the Hoosier homestead program administered by the Indiana state department of agriculture to commemorate and maintain a registry of farms owned by the same family for at least 100 years. Provides that only the portion of a farm that satisfies the familial ownership and other requirements receives the Hoosier homestead designation and is subject to the provisions regarding eminent domain. Requires all property taxes to be paid up to date to be registered as a Hoosier homestead property or to renew registration as a Hoosier homestead property. Provides with certain exceptions, that if a county, city, town, or school corporation (unit) exercises eminent domain to take a fee simple interest in a Hoosier homestead, the property owner is entitled to: (1) testify at a public meeting of the condemning unit's legislative body; and (2) compensation that is the greater of: (A) 200% of the fair market value of the parcel; or (2) 200% of the value of the land and replacement cost of the improvements to the land minus depreciation. Requires the owner to also be compensated for relocation costs, other damages, and business losses resulting from the condemnation of the property.