MO HB2898

Counties with over one million inhabitants and municipalities with over 1,500 inhabitants may establish land bank agencies for managing and disposing of tax-delinquent real estate, with all seven board members appointed by the county executive under county charter authority

Land bank agencies must sell, put to productive use, or show significant progress on acquired properties within 5 years, with a maximum 8-year deadline to sell, clear, or put property to public use, or the property must be offered at public sale

Removes the previous two-year delinquency waiting period requirement for counties electing to operate as "partial opt-in counties" under the land tax collection law provisions

Prohibits sales to bidders who are delinquent on taxes, are land bank board members or employees, are elected officials of the jurisdiction, or are related within the second degree to such persons

Land bank agencies are exempt from state and local taxation, and reserve period taxes (first three years after sale) from disposed properties are distributed back to the land bank agency, minus a 4% county collection fee