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MO HB1116
Bill
Status
1/4/2012
Primary Sponsor
Michael Brown
Click for details
AI Summary
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Repeals and reenacts sections 141.210-141.790 of Missouri's Land Tax Collection Law relating to the foreclosure and sale of tax delinquent real property
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Allows municipalities located within counties that operated a land trust as of January 1, 2012 to establish a land bank agency for managing tax delinquent property to foster housing, industry, and jobs
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Transfers title of real estate held by land trustees within establishing municipalities to the new land bank agency within one year of creation
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Creates a three-member land bank commission appointed by the establishing municipality (two members) and school district (one member), with commissioners serving at pleasure without compensation
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Authorizes land bank agencies to conduct private foreclosure sales to acquire property and establishes procedures for managing, marketing, and selling acquired property while distributing proceeds to taxing authorities
Legislative Description
Allows the City of Kansas City to establish a land bank agency for the management, sale, transfer, and other disposition of tax delinquent land to return it to specified effective use
Last Action
HCS Reported Do Pass (H)
2/21/2012