Endangered Species And Property Rights
September 19, 1995
A House of Representatives task force has rewritten the Endangered Species Act, and hearings on it are to be held this week. The bill is said to provide voluntary ways for landowners to protect various species, but critics question its position on how much landowners should be compensated for rules that reduce property values.
- Landowners would not be compensated for loss of use of their lands unless the loss of the land's value was 20% or more.
- Only if the land value was cut by 50% or more would the government be required to buy the land.
Critics also question the bill's continued use of federal regulations.
Rep. John Shadegg (R-AZ) has introduced a non-regulatory bill which is popular with property rights groups because it provides incentives for landowners to cooperate with species protection efforts.
Source: Jeff A. Taylor, "Turning Back the Green Wave," Investor's Business Daily, September 19, 1995.
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