MS SB2857

Creates the "Land Bank Act" authorizing counties and municipalities to establish land bank authorities to acquire, manage, and dispose of vacant, abandoned, or tax-delinquent properties to promote economic development.

Land bank authorities may acquire property through gift, purchase, foreclosure, or other means (except eminent domain), hold property in the authority's name, and dispose of property to public or private entities without local government approval.

Establishes an expedited confirm and quiet title procedure allowing authorities to file petitions in chancery court to vest clear title in the authority, with notice requirements to identified property interest owners at least 30 days before hearing.

Authorities are exempt from taxation, cannot levy taxes or exercise eminent domain, and cannot assist with casino development; member boards serve without compensation but receive reimbursement for actual expenses.

Authorizes authorities to borrow money and issue bonds and notes with maturities up to 30 years, which may be backed by limited or unlimited tax pledges from creating municipalities or counties.