Conn. Agencies Regs. § 8-273-16 - Actual direct losses: businesses and farm operations

Current through March 4, 2022

(a) Subject to the requirements and limitations in paragraphs (b) through (f) of this section, a displaced person who conducts a business or farm operation is entitled to payment for actual direct losses of personal property that is used in connection with the business or farm operation but is -
(1) No longer needed because the business or farm operation is being discontinued; or
(2) Not being moved to a relocation site because it is not suitable for use there.
(b) If a business or farm operation is relocated, payment for actual direct losses of personal property may not be more than the amount the agency concerned determines the reasonable moving expenses would be for moving that property to the relocation site.
(c) A displaced person who conducts a business or farm operation shall make a bona fide effort to sell personal property he does not move.
(d) If a displaced person relocates a business or farm operation and sells an item of personal property that he does not move and promptly replaces it with a comparable item, payment for actual direct loss of the original item may not be more than the replacement cost less its sale price, or the cost of moving the original item, whichever is less.
(e) If a displaced person discontinues a business or farm operation and sells an item of personal property, payment for actual direct loss of that item may not be more than the inplace value of the item less its sale price, or the cost of moving it, whichever is less.
(f) If a displaced person who conducts a business or farm operation abandons an item of personal property after making a bona fide effort to sell that property, payment for the actual direct loss of that item may not be more than the inplace value of the item less what its sale price would have been, or the cost of moving it, whichever is less.

Notes

Conn. Agencies Regs. § 8-273-16
Effective April 30, 1975

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