LA SB189

Creates the State Land Banking Authority Act (R.S. 40:599.1-599.32), allowing municipalities and parishes to establish quasi-public nonprofit land bank authorities to acquire, rehabilitate, and transfer abandoned and dilapidated properties in economically depressed areas

Land banks may acquire tax-foreclosed and adjudicated properties, quiet title, demolish or rehabilitate structures, and sell or lease properties to return them to productive use, but cannot exercise eminent domain or impose taxes

Governance requires a board of directors established by local ordinance, with mandatory code of ethics, conflict of interest disclosure policies, and compliance with Open Meetings Law

Authorities may issue bonds with up to 50-year maturity to fund property acquisition and improvements; bonds are exempt from state and local taxes and do not constitute debt of the state or political subdivisions

Land bank properties and activities are exempt from state and local taxes while held by the authority; properties become taxable upon sale or lease to private entities (except nonprofit organizations with redevelopment agreements)