FL H1449

Authorizes one or more local governments to create a land bank by ordinance or agreement to acquire and manage vacant, abandoned, and tax-delinquent properties for productive use as affordable, transitional, or workforce housing.

Establishes a seven-member voting board with required representation from realtors, banking industry, real estate developers, chambers of commerce, nonprofit affordable housing organizations, and multiple property owners, plus nonvoting planning director positions.

Grants land banks power to acquire real property through gift, purchase, foreclosure, or tax sale; transfer property; issue revenue bonds; borrow funds; and make automatically accepted bids on tax sale properties meeting specified criteria without competing bids.

Limits land banks to 7 percent maximum ownership of total parcels within their jurisdiction; requires exemption from state and local taxation; prohibits board members and employees from acquiring interests in land bank properties or contracts; and mandates monthly and annual reporting.

Establishes dissolution procedures requiring two-thirds approval by governing body with 60-day notice; upon dissolution, all assets transfer to creating local government(s); effective July 1, 2021.