AB437-AA2,1,6
5"196.491
(3e) Conveyance of property to an electric utility. (ag) In this
6subsection, "electric utility" has the meaning given in s. 196.485 (1) (bs).
AB437-AA2,2,14
1"(b) If the electric utility and owner of the land cannot agree on the fair market
2value of the interest in land sought by the electric utility within 90 days after the
3electric utility notifies the owner that the certificate of public convenience and
4necessity has been issued, the issue of the fair market value of the interest shall be
5determined by an arbitrator appointed by the circuit court of the county in which the
6land is located, except that the electric utility and owner of the land may agree to
7extend the 90-day period by an additional 90 days if necessary to reach an agreement
8concerning fair market value in lieu of arbitration. The interest in land shall be
9conveyed to the electric utility upon commencement of the arbitration proceeding.
10Any arbitration under this paragraph shall be conducted on an expedited basis to the
11extent that an expedited proceeding is available. The arbitrator and circuit court
12appointing the arbitrator shall have the powers and duties specified in ch. 788. The
13decision of an arbitrator concerning fair market value shall be binding on the parties,
14except as otherwise provided under ch. 788.".
