DE SB66

Creates Chapter 47 of Title 31 (Delaware Neighborhood Conservation and Land Banking Act) enabling foreclosing governmental units to establish land banks to acquire, manage, and disposition vacant and abandoned properties for productive use.

Allows counties and municipalities with residential vacancy rates at or above 3% to create land banks by local law, ordinance, or resolution; counties may create land banks without the 3% finding requirement.

Land bank boards must consist of odd-numbered membership (minimum 7 members for regular land banks, 11-15 for large jurisdictional ones); no more than half may be public officials or municipal employees; board members must reside or work in the land bank jurisdiction.

Land banks may acquire property through gift, devise, transfer, foreclosure, or purchase; may purchase liens from foreclosing governmental units; exempt from state and local taxation and realty transfer taxes; excess revenues must address blight, neighborhood conservation, or housing improvements.

Establishes procedures for expedited quiet title actions, permits disposition of property according to local priorities (public spaces, affordable housing, commercial use, conservation), and allows foreclosing governmental units to dedicate up to 50% of property tax revenues from disposed land bank properties for 5 years.