Business rules applied to the data are good (constraints, etc.) because they force the developer to fix the old data when they introduce a new rule. Doing data migration from old systems is quite painful when required fields aren't there. It's hard work to introduce a foreign key constraint when there are a million rows that have to be updated...

However, much of what people call business rules are much more complex logic than that. I like the store things like the state transition mappings in the database, but ultimately the application is the more flexible place to execute the state transitions.