CT HB05921

Authorizes two or more municipalities within the same planning region to establish a regional land bank authority through concurrent legislative resolutions.

Land bank authority serves as a public body corporate with power to acquire, assemble, dispose of, and quiet title to real property to advance long-term growth, planning, and economic development goals.

Authority board consists of representatives appointed by member municipalities, with qualification, terms, and compensation determined by each municipality's legislative body.

Grants authority powers including ability to foreclose municipal tax liens, borrow money and issue bonds, invest public funds, procure insurance, and accept grants and donations.

Allows municipalities in the same planning region to join existing authorities by resolution, and permits withdrawal if no outstanding debts or obligations exist, subject to approval by other member municipalities.