MS HB1705

Creates the City of Jackson Land Bank Authority to acquire, manage, and dispose of vacant, abandoned, or tax-struck property within Jackson to promote economic development and revitalization.

Authority may acquire property through gift, purchase, transfer, or foreclosure (but not eminent domain) and hold property with unclear title; authority is exempt from taxation and cannot levy taxes or special assessments.

Establishes expedited confirm and quiet title procedure allowing authority to record notice of pending action, conduct title search, provide notice to property interest owners via mail/posting/publication, and obtain court judgment vesting clear fee simple title within 90 days.

Authority may borrow money and issue bonds/notes maturing in up to 30 years, with city able to pledge limited or unlimited tax full faith and credit if approved by voters; bonds are tax-exempt.

Authority may enter intergovernmental agreements with state agencies, county, and city; city and county may transfer property and funds to authority; authority powers are largely independent of municipal or county restrictions except for zoning and land use controls.