Loading chat...
CO SB063
Bill
AI Summary
- Enacts the "Property Ownership Fairness Act" requiring governmental entities to pay just compensation to property owners when land use laws reduce property rights or fair market value
- Property owners can demand compensation within three years of a land use law's effective date; if unresolved after 90 days, they may file a district court action for compensation equal to the reduction in fair market value
- Exempts from compensation requirements land use laws that protect public health and safety, address public nuisances, comply with federal law, regulate utility facilities, restrict sex offender housing or illegal drug sales, or predate this act
- Prohibits governmental entities from capping the number of land use applications accepted or residential building permits issued for any period
- Prevailing property owners in compensation lawsuits may recover costs, expenses, and reasonable attorney fees; property owners are not liable for governmental entity attorney fees
Legislative Description
Property Ownership Fairness Act
Last Action
Senate Committee on State, Veterans, & Military Affairs Postpone Indefinitely
3/1/2022
Committee Referrals
State, Veterans, & Military Affairs1/18/2022
Full Bill Text
No bill text available