Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that requires federal compensation of private property owners when federal actions reduce the value of that property by 20 percent or more.

Highlights:

• Authorizes property owners the option to sell their property to the Federal government, if the effected property's value decreased by at least 50 percent because of a federal action.

• Requires the agency to give notice to effected property owners, detailing their rights and the procedures for obtaining compensation.

• Requires property owners to make a written request for compensation within 180 days of receiving notice from the agency affecting the property.

• Allows for negotiation between the agency and the landowner and allows for independent arbitration or civil action if an agreement on compensation is not reached with 180 days.

• Subjects any compensation payments to the availability of appropriations.

• Specifies that compensated property owners may not use their land for any other purpose unless the federal agency's action is canceled or the property owner refunds the amount of compensation.

Full Bill Text

Full Bill Text