; (2) establish a clear, uniform, and efficient judicial process whereby aggrieved property owners can obtain vindication of property rights guaranteed by the fifth amendment to the United States Constitution and this Act; (3) amend certain provisions of the Tucker Act, including the repeal of section 1500 of title 28, United States Code; (4) rectify the constitutional imbalance between the Federal Government and the States; and (5) require the Federal Government and States to compensate property owners for the deprivation of property rights. 4. Definitions For purposes of this Act the term— (1) agency means a department, agency, independent agency, or instrumentality of the United States or an individual State, including any military department, Government corporation, Government-controlled corporation, or other establishment in the executive branch of the United States Government or an individual State; (2) agency action means any action or decision taken, permanently or temporarily, by an agency that— (A) takes a property right; or (B) unreasonably impedes the use of property or the exercise of property interests or significantly interferes with investment-backed expectations; (3) just compensation — (A) means compensation equal to the full extent of a property owner’s loss, including the fair market value of the private property taken and business losses arising from a taking, whether the taking is by physical occupation or through regulation, exaction, or other means; and (B) shall include compounded interest calculated from the date of the taking until the date the agency tenders payment; (4) owner means the owner or possessor of property or rights in property at the time the taking occurs, including when— (A) the statute, regulation, rule, order, guideline, policy, or action is passed or promulgated; or (B) the permit, license, authorization, or governmental permission is denied or suspended