SD SB209

Authorizes counties, municipalities, school districts, and other local governments to create land banks as nonprofit corporations to acquire, manage, and return abandoned, blighted, tax-delinquent, or vacant properties to productive use

Requires land banks to be governed by a board of 5-11 members appointed by the creating political subdivision, with bylaws establishing officer selection, record-keeping, and public property inventory requirements

Grants land banks broad powers including borrowing money, issuing bonds, employing staff, entering contracts, demolishing or rehabilitating properties, and participating in tax foreclosures—but explicitly prohibits use of eminent domain

Exempts land bank property, income, and operations from all state and local taxation, and allows bonds issued by land banks to be tax-exempt

Permits the Governor to establish temporary land banks following natural disaster emergency declarations, which must be converted to permanent status within 12 months or be dissolved