Amendment 74

Summary

Require the state to properly compensate a property owner if a law or regulation reduces the fair market value of their property.

In this amendment the devil is in the details. How do you determine the impact on the fair market value of your property.

Vote No

The threat of numerous lawsuits would put a giant damper on changes. This is not a way to keep laws and regulations reasonable, this is an attempt to stop changes.

It's being pushed by the Oil & Gas companies to help allow them to continue drilling near homes. It's not in the interests of the citizens of the state, it's only in the interests of the Oil & Gas company shareholders (according to the very conservative Colorado Springs Gazette).

Arguments Against

This will cause a freeze in government regulations - which will suck when a drilling rig goes in behind your house. The arguments against it are spelled out very well in this article.

Arguments For

If the state passes a law that hurts the value of your property, you should receive compensation. That is a fair goal, within reason.