IL HB2534

Establishes a Land Bank Operations Program administered by the Illinois Housing Development Authority to make annual grants to intergovernmental or county land bank authorities for acquiring, managing, and revitalizing vacant and abandoned properties.

Requires the Authority to maintain a Technical Assistance Network providing services from for-profit or not-for-profit organizations with land banking experience to grant recipients.

Imposes a $200 land bank operations fee on all tax certificate purchasers (except when counties bid as trustees), with 95% of proceeds remitted to the State Treasurer for the Land Bank Operations Fund and 5% retained by county collectors for administrative expenses.

Creates the Land Bank Operations Fund as a special fund in the State treasury that is protected from budget sweeps, administrative charge-backs, or transfers to other state funds.

Allows the Illinois Housing Development Authority to retain up to 5% of appropriated funds for administrative costs associated with operating the Land Bank Operations Program.