Private Property Protection Act of 1999

Private Property Protection Act of 1999 - Requires the Federal Government to compensate a property owner whose use of that property has been limited by an agency action, pursuant to a specified regulatory law, that diminishes the fair market value of that property by 20 percent or more, for that diminution in value. Requires the Government to buy at fair market value any portion of a property whose value has been diminished by more than 50 percent.

Declares that property with respect to which compensation has been paid under this Act shall not thereafter be used contrary to the limitation imposed by the agency action, unless: (1) the action is later rescinded or vitiated; and (2) the property owner refunds the amount of the compensation to the Treasury.

Provides that if a use is a nuisance as defined by State law or local zoning ordinance, no compensation shall be made under this Act with respect to a limitation on that use.

Prohibits compensation from being made under this Act with respect to: (1) an agency action the primary purpose of which is to prevent an identifiable hazard to public health and safety or damage to specific property other than the property whose use is limited; or (2) an agency action pursuant to the Federal navigational servitude, except as such servitude is applied by U.S. courts to wetlands.

Sets forth the procedures by which a property owner may seek compensation under this Act.

Requires any agency taking an action limiting private property use to give appropriate notice of rights and compensation procedures to the property owners.

Declares that: (1) nothing in this Act shall be construed to limit any right to compensation under the Constitution or other Federal law; and (2) payment of compensation shall not confer on the Federal Government any rights other than the use limitation resulting from the agency action.