AL SB204

Shortens the redemption period from three years to one year for tax-delinquent properties sold at auction when housing/building code liens or nuisance abatement liens are involved and the property is not occupied as a residence

Allows local governments and local land bank authorities to purchase tax-delinquent property at public auction by bidding the minimum amount, with deeds issued after one year instead of the standard three-year waiting period

Authorizes counties and municipalities to create multijurisdictional local land bank authorities through intergovernmental agreements, and grants property tax exemptions for properties owned by these authorities

Requires up to 75% of ad valorem taxes collected on property conveyed by a local land bank authority to be remitted back to the authority for five consecutive years following the conveyance

Grants the Governor authority to create local land bank authorities by executive order during declared states of emergency caused by natural disasters, with automatic dissolution after 12 months if not converted to a standard local land bank authority