HB 727

AN ACT TO CREATE THE "LAND BANK ACT" TO FACILITATE THE CONVERSION OF VACANT, ABANDONED OR LAND STRUCK OFF TO THE STATE INTO PRODUCTIVE USE; TO AUTHORIZE THE CREATION OF MUNICIPAL AND COUNTY LAND BANK AUTHORITIES AND TO AUTHORIZE COUNTIES AND MUNICIPALITIES TO CREATE JOINT LAND BANK AUTHORITIES; TO PROVIDE THE POWERS AND DUTIES OF SUCH AUTHORITIES; TO AUTHORIZE SUCH AUTHORITIES TO ACQUIRE AND DISPOSE OF PROPERTY; TO PROVIDE AN EXPEDITED PROCEDURE TO CONFIRM AND QUIET TITLE TO PROPERTY ACQUIRED BY SUCH AUTHORITIES; TO AUTHORIZE AUTHORITIES CREATED UNDER THIS ACT TO ENTER INTO INTERGOVERNMENTAL AGREEMENTS FOR CERTAIN PURPOSES; TO AUTHORIZE COUNTIES AND MUNICIPALITIES TO CREATE LOCAL LAND BANK AUTHORITIES TO BORROW MONEY AND ISSUE BONDS AND NOTES; AND FOR RELATED PURPOSES.