Cities and towns; municipal land bank program; tax; sale of property; effective date.
What changed between versions
Added a new definition for 'Land bank' to clarify it is an entity established for acquiring, holding, and transferring unimproved real property under the act.
Added requirements that municipalities must hold a public hearing before adopting a land bank plan and provide notice to community housing organizations and neighborhood associations.
Added a requirement that land bank plans must consider other housing plans, including those submitted to HUD and fair housing policies.
Added a requirement that land banks must file annual performance reports for public review.
Modified developer qualification requirements to focus on having developed three or more housing units within a three-year period and having a development plan approved by the municipality.
Changed the bill number reference from HB 1114 to HB1114 FULLPCS1 and updated the required number from 11760 to 13262, indicating a new version of the bill.