Introduced Version, House Bill 1063 This bill prohibits the use of eminent domain to acquire property for commercial purposes. This is an interesting issue. Currently, I think eminent domain can be used by the government to take private property if it is done for the “public good”. I honestly don’t know if the question has been definitively settled under current Indiana law. But, the argument would go that taking your corn field and selling it or even giving it to some commercial or industrial interest will create jobs, generate tax revenues, and therefore be for the public good. That makes some sense, though it doesn’t feel right that Crony County (fictitious), Indiana should be able to take the property that’s been in your family for almost 200 years since they fought the Pottowatomis for it, shove a bargain basement “fair market value” down your throat, and turn the property over to Acme Co. to throw up a strip mall.
If such a law had been in place in Texas back when George W. Bush was with the Rangers, I believe it would have prevented him from making a good chunk of his fortune with the Rangers stadium deal, for example. (I wonder if anyone currently owns property in jeopardy of eminent domain from the new Colts stadium?)