SB 2677

AN ACT TO CREATE THE "MISSISSIPPI LAND BANK ACT" TO PROMOTE RETURNING BLIGHTED OR ABANDONED PROPERTIES TO COMMERCE THROUGH THE CREATION OF LAND BANKS BY LOCAL GOVERNMENTS, ACTING INDIVIDUALLY OR COOPERATIVELY WITH OTHER LOCAL GOVERNMENTS; TO PROVIDE FOR THE POWERS AND DUTIES OF LAND BANKS; TO AUTHORIZE LAND BANKS TO ACQUIRE, DEVELOP, AND DISPOSE OF PROPERTY; TO AUTHORIZE LAND BANKS TO PERFORM RELATED FUNCTIONS, SUCH AS MANAGING PROPERTY OWNED BY THE LAND BANK, QUIETING AND CONFIRMING TITLE TO PROPERTY, ESTABLISHING REDEVELOPMENT AND FINANCING STRUCTURES (INCLUDING THOSE TO FACILITATE TAX CREDITS AND SUBSIDIARY ENTITIES), FINANCING REDEVELOPMENT, ISSUING BONDS, AND ACCEPTING TAX FORFEITED PROPERTIES FROM THE SECRETARY OF STATE; AND FOR RELATED PURPOSES.