_____________ bill NO. _____________

INTRODUCED BY _________________________________________________

By Request of the ****

A BILL FOR AN ACT ENTITLED: "AN ACT generally revising property ownership laws; listing additional categories of property that may be owned; PROVIDING that property damaged or taken for a public use is subject to regulatory takings suit; and AMENDING SECTION 70-1-104, MCA."

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:

Section 1. Section 70-1-104, MCA, is amended to read:

"70-1-104. In what things property interests may exist -- regulatory taking. (1) There may be ownership of:

(1)(a)    all inanimate things which that are capable of appropriation or of manual delivery;

(2)(b)    all domestic animals;

(3)(c)    all obligations;

(4)(d)    such products of labor or skill such as the composition of an author, the goodwill of a business, trademarks, and signs; and

(5)(e)    rights created or granted by statute;

(f)         licenses to pursue a business or livelihood, including state licenses that have been approved and issued and for which the holder has a legitimate claim of entitlement, and the property interests associated with licenses, including any authorized ability to freely transfer or dispose of the license;

(g)        real property and fixtures;

(h)        personal property and appurtenances;

(i)         water rights and beneficial water use permits or authorizations as defined in 85-2-102;

(j)         intangible property; and

(k)        mineral rights.

(2)        (a) Except as provided in subsection (2)(b), the property interests in subsection (1) are protectable private property interests under Article II, section 29, of the Montana constitution for which compensation may be claimed and just compensation must be awarded when a court finds that the property has been damaged or taken for a public use by means of eminent domain or a regulatory taking.

(b)        Subsection (2)(a) may not be construed to limit the types of property interests or what may be considered property recognized under the Montana constitution or by law for which just compensation may be claimed and awarded, such as property interests recognized and protected under Article II, section 3, of the Montana constitution and property as defined in 15-1-101.

(3)        A court may not deny a regulatory taking on the basis that the property taken is associated with a highly regulated business or industry."