IA HF1008

Establishes the "Iowa Land Redevelopment Trust Act" (Chapter 358A) allowing cities, counties, or townships to create land redevelopment trusts to address dilapidated, abandoned, blighted, and tax-delinquent properties

Land redevelopment trusts operate as public agencies governed by a board of directors, with power to acquire property through gift, purchase, tax sales, or foreclosure, but explicitly prohibited from using eminent domain

Trusts may receive up to 75% of property taxes collected on rehabilitated properties they convey or lease for up to five consecutive years after sale, excluding school district levies

Grants land redevelopment trusts exclusive bidder's right to purchase tax sale certificates on dilapidated, abandoned, or blighted parcels within their boundaries, with priority over all other bidders

Real property held by land redevelopment trusts is exempt from property taxation, and trusts must comply with open meetings (Chapter 21) and public records (Chapter 22) requirements and submit annual reports to creating municipalities