IN SB0232

Legislative Description

Land banks. Authorizes a county, consolidated city, or second class city to which the unsafe building law applies to establish a municipal corporation known as a land bank to manage and improve the marketability of distressed real property in the county or city that establishes the land bank. Requires a land bank's bylaws to require the land bank board (board) to approve any conveyance of real property in an open meeting and consider any pertinent information regarding the property's value or the financial ability of a person before approving a conveyance. Allows the land bank to enter into an agreement

Last Action

Committee Referrals