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Working Paper
Discouraging Federal actions that reduce the value of private property: evaluating procedural and financial approaches
A regulatory taking occurs when a court concludes that a government action has taken private property for a public use without paying just compensation to the owner--a violation of the fifth amendment. Often, the remedy is a monetary award whose value is determined by the court. ; In recent years there has been considerable interest in creating a statutory complement to the constitutional law of takings. Some believe that a statutory scheme, using procedural financial approaches, would discourage federal regulatory activities that reduce the value of privately owned property. The procedural ...