HB 1354 Summary

• Creates the "Mississippi Property Ownership Fairness Act" to restrict eminent domain use to only truly public uses, excluding economic development benefits like increased tax base or employment.

• Requires government entities to compensate property owners when regulations reduce property value, with compensation based on the diminution in fair market value from the governmental action.

• Establishes a three-year statute of limitations for compensation claims, with a 90-day administrative review period before property owners can file court actions.

• Exempts certain governmental actions from compensation requirements, including those protecting public health and safety (fire codes, building codes, pollution control), actions required by federal law, and those taken before July 1, 2020.

• Waives governmental immunity for compensation claims and allows property owners to recover attorney fees and costs if they prevail and the government's settlement offer was not bona fide.