SB32 Summary

• Reduces the holding period for tax delinquent properties from five years to three years before they can be transferred to the Alabama Land Bank Authority by the Land Commissioner.

• Removes distribution requirements for proceeds from land bank property sales, allowing authorities to retain and allocate revenues according to their discretion.

• Allows municipalities or counties with over 100 delinquent properties to form local land bank authorities with powers to manage, maintain, demolish, and clear title to properties.

• Grants local land bank authorities additional powers including ability to remediate environmental contamination, enter intergovernmental agreements with municipalities and counties, and conduct quiet title actions without filing fees.

• Becomes effective on the first day of the third month following passage and approval by the Governor.