COMPENSATION FOR GOVERNMENT REGULATION OF PRIVATE PROPERTY. IN ITIATIVE CONSTITUTIONAL AMENDMENT

COMPENSATION FOR GOVERNMENT REGULATION OF PRIVATE PROPERTY. INITIATIVE CONSTITUTIONAL AMENDMENT. The Constitution prohibits private property from being taken or damaged for public use without compensation. This measure would define damaged for public use as unreasonable, arbitrary, dilatory, discriminatory, or oppressive government action causing economic damage to the owner of an interest in the property. It would define taken for public use to include government restriction or condition that advances no legitimate public purpose or disproportionately or unfairly burdens property owner and substantially causes decrease in affected property\u27s market value. Compensation may include collection costs. Exemption provided for federal law requirements. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Unknown, but probably major, annual administrative and claim costs to provide compensation to property holders damaged by government actions