 The Supreme Court reversed, finding Nollan and Dolan were concerned about demands for property and that because money is a form of property, a monetary exaction is subject to those tests.The opening gun in the current fight over effects of stringent regulation of private property in America was fired in 1973 when the Council on Environmental Quality came out in favor of the British approach of viewing the right to develop land as a public rather than private right.To that end its proponents argued that there should be no such thing as a regulatory taking, and the owners of land subjected to confiscatory regulations should only be able to get a judicial declaration that the regulation is invalid.