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MS SB2677
Bill
AI Summary
- Creates the Mississippi Land Bank Act allowing local governments to establish land banks individually or jointly to acquire, manage, and return vacant and abandoned properties to productive use
- Land banks operate as public political subdivisions governed by boards of 5-11 members who serve without compensation and can acquire tax-forfeited properties from the Secretary of State
- Grants land banks broad powers including borrowing money, issuing tax-exempt revenue bonds, entering partnerships, forming subsidiary entities, and utilizing tax credits for redevelopment, but prohibits use of eminent domain
- Requires land banks to maintain public property inventories, comply with ethics and open meetings laws, submit annual reports, and undergo audits by sponsoring governments and the State Auditor
- Authorizes the Governor to create emergency land banks following natural disasters, which automatically dissolve after 12 months unless converted to permanent status by local governments
Legislative Description
Mississippi Land Bank Act; local government transfer vacant and abandoned property to.
Last Action
Died In Committee
2/3/2026
Committee Referrals
Judiciary, Division A1/19/2026
Full Bill Text
No bill text available