No property acquired by the exercise of the power of eminent domain under the laws of the State of Mississippi shall, for a period of ten years after its acquisition, be transferred or any interest therein transferred to any person, non-governmental entity, public-private partnership, corporation, or other business entity with the following exceptions:
(1) The above provisions shall not apply to drainage and levee facilities and usage, roads and bridges for public conveyance, flood control projects with a levee component, seawalls, dams, toll roads, public airports, public ports, public harbors, public wayports, common carriers or facilities for public utilities and other entities used in the generations, transmission, storage or distribution of telephone, telecommunication, gas, carbon dioxide, electricity, water, sewer, natural gas, liquid hydrocarbons or other utility products.
(2) The above provisions shall not apply where the use of eminent domain (a) removes a public nuisance; (b) removes a structure that is beyond repair or unfit for human habitation or use; (c) is used to acquire abandoned property; or (d) eliminates a direct threat to public health or safety caused by the property in its current condition.
Economic Impact Statement
The amount and source of revenue required to implement the Initiative, if adopted, will only involve whatever printing costs are associated with the adoption of a constitutional amendment. The process of filing and completing eminent domain proceedings is not affected by the Initiative, which has no effect until any property expropriated to transfer to private parties has become vested in the condemnor.
With respect to a reduction in any source of government revenue or reallocation of funding from currently funded programs, the only possible effect would be that property expropriated for transfer to private parties would be removed from the tax rolls if it had been previously owned by an owner paying taxes thereon. This would depend on the location of the property condemned, its assessed value and tax rate and would vary so much that any prediction of its effect would be entirely speculative. Also, the exceptions contained in the initiative would exempt most all condemned property from the limitation on transfers.