The Kansas Property Rights Protection Act aims to protect property owners from governmental actions that diminish the value of their property without just compensation, in accordance with the 5th and 14th Amendments of the U.S. Constitution. The bill defines key terms such as "governmental action," "regulatory taking," and "fair market value," and establishes that property owners are entitled to just compensation for both temporary and permanent damages resulting from such actions. Specifically, compensation for temporary damages must be at least 110% of the damages incurred, while compensation for permanent damages must be at least 150% of the property's diminished value. Property owners can also seek a full buyout if their property value decreases by more than 10% due to a regulatory taking.

Additionally, the bill outlines the process for property owners to file claims for damages, requiring written notice to the governmental entity within three years of the action. If a claim is denied, property owners can pursue legal action, with the burden of proof resting on the governmental entity to demonstrate that no regulatory taking occurred. The act also allows governmental entities to recover costs from corporations or developers responsible for projects that lead to regulatory takings. However, the act does not apply to actions that abate nuisances, limit certain businesses, or are necessary for public utilities and compliance with federal law.