HB 1332 Summary

• Amends Section 43-35-21 to allow municipalities to sell urban renewal bonds at private sale under terms determined by the municipality, in addition to public sales and exchanges.

• Brings forward multiple sections of the Urban Renewal Law (Sections 43-35-1 through 43-35-37) to establish definitions, procedures, and powers for municipalities to undertake urban renewal projects in slum and blighted areas.

• Brings forward sections of slum clearance law (Sections 43-35-101 through 43-35-117) authorizing municipalities to identify buildings unfit for human habitation and require repairs, closures, or demolition.

• Grants municipalities comprehensive powers including eminent domain authority, ability to issue bonds and accept federal assistance, authority to acquire and dispose of property, and power to establish urban renewal agencies and housing authorities.

• Effective date: July 1, 2011.