An initiative relating to eminent domain; amending Section 7 701, Idaho Code, to provide limitations on eminent domain for private parties, and for urban renewal or econimic development purposes; and provide for further judicial review of proceedings involving the exercise of eminent domain; adding a new section 7-701a to provide for definitions relating to highest and best use, fair market value, just compensation, and land use law; and amending Chapter 80, Title 67, Idaho Code, to provide for just compensation when a regulatory action reduces fair market value of property and to provide just compensation to a condemnee.