Section 112-A. Certain acquisitions by eminent domain

Notwithstanding any
  provision of the eminent domain procedure law to the  contrary,  in  any
  proceeding  brought  pursuant  to such law, by any municipal corporation
  located in the county of  Nassau  regarding  the  Jamaica  water  supply
  company,  title shall vest in the municipal corporation and compensation
  shall be paid only (a)  upon  a  decision  by  the  supreme  court  that
  compensation for the 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.  Should
  any  court determine that a method of compensation other than the income
  capitalization method be utilized, or if the proposed award 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 municipal corporation  may  withdraw  the
  condemnation proceeding without prejudice or costs to any party.