SB 6201.E - DIGEST

(AS OF SENATE 2ND READING 2/17/92)

      Designates procedures which constitute a taking of private property for which compensation may be required.

      Authorizes the compensation to be for the full amount of the decrease in fair market value, plus reasonable costs.

      Provides that compensation is not required when the action is taken to prevent or abate a public nuisance.

      Establishes a statute of limitations for actions brought under the act.

      Designates procedures when a natural event or condition threatens to deprive an owner of land of the land's use and corrective action is required which will violate a state or local law or regulation.