1. (a) For protests and appeals of commercial and industrial property, operating as such at the time of valuation, any party that intends to offer into evidence a sale or lease transaction as evidence of the value of the property that is the subject of the protest before the board of equalization or appeal before the circuit court, shall have an affirmative duty to disclose both of the following:

   1. (1) Whether the proposed comparable property was occupied or unoccupied at the time of the transaction.
   2. (2) Whether the proposed comparable property was subject to any use, deed, or lease restriction at the time of the transaction that prohibits the property, on which a building or structure sits, from being used for the purpose for which the building or structure was designed, constructed, altered, renovated, or modified.
2. (b) The purpose of the disclosure is to allow the court to determine whether the proposed comparable property is similarly situated to the subject property. Failure to disclose this information at the time the sale or lease transaction is offered into evidence shall result in the proffered evidence being deemed inadmissible.

(Act 2018-265, §1.)