(65 ILCS 5/11-91.1-3) (from Ch. 24, par. 11-91.1-3)
Sec. 11-91.1-3.
In lieu of the actual moving expenses heretofore authorized to be paid,
the municipality may pay any person who moves or discontinues his business
or farm operation, who elects to accept such payment, a fixed relocation
payment in an amount equal to the average annual net earnings of the
business or the farm operation, or $5,000, whichever is the lesser. In the
case of a business, no payment shall be made unless the municipality is
satisfied that the business (1) cannot be relocated without a substantial
loss of its existing patronage, and (2) is not part of a commercial
enterprise having at least one other establishment not being acquired for
highway purposes which is engaged in the same or similar business. The term
"average annual net earnings" means one-half of any net earnings of the
business or farm operation, before Federal, State and local income taxes,
during the two taxable years immediately preceding the taxable year in
which such business or farm operation moves from the real property being
acquired for such project, and includes any compensation paid by the
business or farm operation to the owner, his spouse or his dependents
during such two year period.
(Source: P.A. 76-1644.)
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