Government Acquisition, Regulation of Private Property. Constitutional Amendment.

Bars state and local governments from condemning or damaging private property for private uses. Prohibits rent control and similar measures. Requires government to compensate private property owners for certain land use, housing and environmental regulations. Exempts compensation for regulation undertaken to preserve public health and safety. Defines “just compensation.” Prohibits deference to government in property rights cases. Requires government to offer to original owner of condemned property the right to repurchase property at condemned price when property is put to substantially different use than was publicly stated. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local government: Unknown, probably major annual governmental costs to compensate property owners for reductions in property values. (Initiative 07-0003.