Relates to requiring financial reports for real property acquired by the state, including any agencies and authorities, through eminent domain

This bill requires state agencies and authorities to create financial impact reports whenever they use eminent domain to acquire real property for economic development projects. The reports must detail the estimated costs and benefits of the project, project-related tax revenue for the next three years, and the total financial assistance provided to the local development corporation. State agencies will review these reports and offer recommendations if necessary. The law applies to contracts where state capital is used for projects that have been legally determined to rely on eminent domain powers.