I rise today as an original cosponsor of the Private Property Rights Act of 1994. This bill recognizes the important role the use and ownership of property plays in American society and declares the policy of the Federal Government to be one that will minimize takings of private property. This bill will require Federal agencies to certify to the Attorney General that a taking impact assessment has been completed prior to promulgating any agency policy to Congress. The takings impact assessment will consider the effect of the agency action, the cost of the action to the Federal Government, the reduction in value to private property owners and require the agency to consider alternatives to taking private property. This bill will ensure that the impact on private property rights is duly considered in Federal Government agencies' regulatory activities. In no way does it limit an agency's authority to regulate or meet a legislative mandate. But it does require Government decisionmakers to analyze the potential impact of their regulatory actions on private property rights and to minimize those actions to the fullest extent possible. Compliance with this act will help avoid inadvertent takings of constitutionally guaranteed rights and therefore reduce the Federal Government's financial liability for such compensable takings. Government regulations too often harm American farmers and others by taking away the value of their land.
Editor's note · Context
Introducing the Private Property Rights Act of 1994 and its implications for property ownership and government regulation.
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