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pay-or-waive

pay-or-waive
 n.— «In a nutshell, Washington’s I-933 says that when government regulation reduces a property’s value—or the potential value of uses of the property—the government should either pay the property owner for the “lost” value or else waive the regulation. (For shorthand, this sort of scheme is sometimes called pay-or-waive.) 933 does allow for some exceptions where pay-or-waive would be plainly stupid: such as laws that require property owners to comply with building codes for fires.» —“This Land Is…Someone’s Land” by Eric de Place Sightline Institute (Seattle, Washington) May 5, 2006. (source: Double-Tongued Dictionary)

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