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The following provisions are added to and made a part of ORS chapter 197: <br /> <br /> (1) If a public entity enacts or enforces a new land use regulation or enforces a land <br /> use regulation enacted prior to the effective date of this amendment that restricts <br /> the use of private real property or any interest therein and has the effect of <br /> reducing the fair market value of the property, or any interest therein, then the <br /> owner of the property shall be paid just compensation. <br /> <br />(2) Just compensation shall be equal to the reduction in the fair market value of the <br /> affected property interest resulting from enactment or enforcement of the land use <br /> regulation as of the date the owner makes written demand for compensation under <br /> this act. <br /> <br />(3) Subsection (1) of this act shall not apply to land use regulations: <br /> <br /> (A) Restricting or prohibiting activities commonly and historically recognized <br /> as public nuisances under common law. This subsection shall be <br /> construed narrowly in favor of a finding of compensation under this act; <br /> <br /> (B) Restricting or prohibiting activities for the protection of public health and <br /> safety, such as fire and building codes, health and sanitation regulations, <br /> solid or hazardous waste regulations, and pollution control regulations; <br /> <br /> (C) To the extent the land use regulation is required to comply with federal <br /> law; <br /> <br /> (D) Restricting or prohibiting the use of a property for the purpose of selling <br /> pornography or performing nude dancing. Nothing in this subsection, <br /> however, is intended to affect or alter rights provided by the Oregon or <br /> United States Constitutions; or <br /> <br /> (E) Enacted prior to the date of acquisition of the property by the owner or a <br /> family member of the owner who owned the subject property prior to <br /> acquisition or inheritance by the owner, whichever occurred first. <br /> <br />(4) Just compensation under subsection (1) of this act shall be due the owner of the <br /> property if the land use regulation continues to be enforced against the property <br /> 180 days after the owner of the property makes written demand for compensation <br /> under this section to the public entity enacting or enforcing the land use <br /> regulation. <br /> <br />(5) For claims arising from land use regulations enacted prior to the effective date of <br /> this act, written demand for compensation under subsection (4) shall be made <br /> within two years of the effective date of this act, or the date the public entity <br /> applies the land use regulation as an approval criteria to an application submitted <br /> by the owner of the property, whichever is later. For claims arising from land <br /> <br /> <br />