N.Y. Public Authorities Law § 1078-e: Acquisition by eminent domain

§ 1078-e. Acquisition by eminent domain. Notwithstanding any provision

of the eminent domain procedure law to the contrary, in any proceeding

brought by the authority pursuant to such law, title shall vest in the

authority and compensation shall be paid only (a) upon a decision by the

supreme court that compensation for the real property so condemned shall

be determined solely by the income capitalization method of valuation,

based on the actual net income as allowed by the public service

commission, and (b) upon such court's determination of the amount of

such compensation, based upon the income capitalization method, entry of

the final judgment, the filing of the final decree, and the conclusion

of any appeal or expiration of the time to file an appeal related to the

condemnation proceeding. If any court shall utilize any method of

compensation other than the income capitalization method, or if the

proposed compensation is more than the rate base of the assets taken in

condemnation as utilized by the public service commission in setting

rates and as certified by the public service commission, the authority

may withdraw the condemnation proceeding without prejudice or costs to

any party.