Why Prop. 99 Will Do Nothing to Protect Property Rights

The Institute for Justice has prepared an important analysis of California's Proposition 99, the eminent domain initiative sponsored by an alliance of government agencies. You can read it here. IJ concludes,

Prop 99 will provide insubstantial protection against the use of eminent domain for private commercial development. Small business owners will continue to lose not only their buildings, but also their incomes. All farmers and working class renters are at risk.  Homeowners may not even be protected. Californians require real, substantive reform for everyone and Prop 99 does not come close to providing it.