MD HB1128

Land bank authorities may create special funds to pledge assets and leverage private investment, make loans or grants to finance projects, and enter into partnerships with other entities

Property sales, leases, or transfers by land bank authorities must include agreements specifying maintenance requirements, property outcomes and uses, and other conditions

Land bank authorities may reenter and repossess property if purchasers breach agreements, fail to obtain required permits, or fail to complete construction or rehabilitation on time

Counties and municipalities may authorize land bank authorities to foreclose on vacant or unsafe properties through in rem foreclosure actions when taxes have been delinquent for at least 6 months

Effective date: October 1, 2025