MS SB2856

Establishes the "Land Bank Act" to authorize counties and municipalities to create land bank authorities that acquire, assemble, and dispose of vacant, abandoned, or tax-foreclosed property to promote economic development and revitalization.

Land bank authorities may acquire property through gift, purchase, transfer, or foreclosure (but not eminent domain), hold property, manage it, and dispose of it to public or private entities without local government approval once created.

Provides expedited procedures for authorities to confirm and quiet title to acquired properties through chancery court proceedings with notice requirements, resulting in absolute fee simple title vesting in the authority with all liens and interests extinguished.

Authorizes authorities to borrow money and issue bonds and notes (maturing in up to 30 years) secured by available revenues, with municipalities and counties able to pledge limited or unlimited tax support to backing the obligations.

Exempts authority property, income, and operations from all state and local taxation; prohibits authorities from levying taxes, exercising eminent domain, or assisting casino development; requires adoption of ethics codes and conflict-of-interest disclosure policies.