Business Services Industry
Update on property-rights issues.
Kiplinger Letter, The, August, 1999
An update on property-rights issues...states, courts, Congress.
States are the most active. At least six now considering bills to protect property owners against state action curbing private land use or hurting land value. Toughest protection laws are in Texas and Fla. Owners get compensation if state action substantially reduces land value.
U.S. Supreme Court is supportive of property-rights advocates. It approved jury trials in property-rights cases in a recent ruling.
But not much chance of Congress stepping into the fray this year. Potential cost of compensation is a major deterrent to passing a bill.
A Bush victory in '00 could change things. The GOP front-runner signed Texas' property-rights law and figures it's a good campaign issue.
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