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Title: Private Property Protection Act of 1995
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.
- 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.