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MS SB2679
Bill
AI Summary
- Authorizes Mississippi municipalities and counties to create land banks, either individually or jointly through interlocal agreements, to acquire, manage, and return vacant and abandoned properties to productive use
- Land banks governed by 5-11 member boards of directors who serve without compensation, with authority to hire staff, borrow funds, issue tax-exempt revenue bonds, and enter into contracts up to 40 years
- Grants land banks power to acquire tax-forfeited properties from the Secretary of State, accept transfers from local governments, demolish or rehabilitate structures, and form subsidiary entities to utilize tax credits for redevelopment
- Provides that ad valorem taxes collected on property conveyed by a land bank are remitted back to the land bank for five years following the sale to fund operations
- Contains a repealer clause setting the act to expire June 30, 2026, the same date it takes effect July 1, 2026, which appears to be a drafting error that would nullify the law immediately
Legislative Description
Mississippi Land Bank Act; local government transfer vacant and abandoned property to.
Last Action
Died In Committee
3/3/2026
Committee Referrals
State Affairs2/16/2026
Municipalities1/19/2026
Full Bill Text
No bill text available