KY SB254

Local governments must establish programs to waive fines, fees, and interest for property owners who donate properties to qualifying donees, including land banks, nonprofit community land trusts, and 501(c)(3) affordable housing organizations registered in Kentucky for at least 5 years

Eligible waivers include recording fees, ordinance violation fines, and delinquent property tax penalties; local governments must also release any liens (except delinquent property tax liens) on donated properties

Donors must submit an affidavit within 30 days of donation containing their contact information, property address, donation date, donee identity, and list of outstanding fines/fees

Local governments that create land bank authorities are required to establish property assessment moratorium programs under KRS 99.595-99.605

Residential buildings sold through land bank programs become eligible for property assessment moratorium certificates when repaired, restored, rehabilitated, or stabilized per KRS 99.595-99.605