CO law currently provides for compensation to a property owner when the government takes or damages private property resulting in an almost total loss in value or use of the property. Amendment 74 would require compensation for any reduction in property value because of a “regulatory taking.”
Recommendation: NO/AGAINST
Proponents should have suggested a statutory change rather than a constitutional change. Vague language means that the courts will probably see a lot of action if Amendment 74 passes. Fear of bankruptcy from financial penalties may also deter local, less well funded governments from doing what is best for the community.
We can learn from Oregon’s experience with similar measures. Oregonians passed Measure 7 in 2000, but the Oregon Supreme Court later it was struck it down. In 2004 voters approved Measure 37, but later subsequently reduced its effect via voter passage of Measure 49 in 2007.
Website for the Yes Side – Committee for Colorado’s Shared Heritage
https://coloradosharedheritage.com/
Website for the No Side – Save Our Neighborhoods
https://no74.co/
Approved Ballot Language
Amendment 74 (CONSTITUTIONAL)
Shall there be an amendment to the Colorado constitution requiring the government to award just compensation to owners of private property when a government law or regulation reduces the fair market value of the property?
YES/FOR _______
NO/AGAINST _________
Amendment 74 initiative language filed with the Secretary of State
http://www.sos.state.co.us/pubs/elections/Initiatives/titleBoard/filings/2017-2018/108Final.pdf
Recommendation: NO/AGAINST
Proponents should have suggested a statutory change rather than a constitutional change. Vague language means that the courts will probably see a lot of action if Amendment 74 passes. Fear of bankruptcy from financial penalties may also deter local, less well funded governments from doing what is best for the community.
We can learn from Oregon’s experience with similar measures. Oregonians passed Measure 7 in 2000, but the Oregon Supreme Court later it was struck it down. In 2004 voters approved Measure 37, but later subsequently reduced its effect via voter passage of Measure 49 in 2007.
Website for the Yes Side – Committee for Colorado’s Shared Heritage
https://coloradosharedheritage.com/
Website for the No Side – Save Our Neighborhoods
https://no74.co/
Approved Ballot Language
Amendment 74 (CONSTITUTIONAL)
Shall there be an amendment to the Colorado constitution requiring the government to award just compensation to owners of private property when a government law or regulation reduces the fair market value of the property?
YES/FOR _______
NO/AGAINST _________
Amendment 74 initiative language filed with the Secretary of State
http://www.sos.state.co.us/pubs/elections/Initiatives/titleBoard/filings/2017-2018/108Final.pdf
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