Local land bank authorities; tax sale properties acquisitions; tax exemption for acquired properties; tax revenue allocation; conveyance to state and local governments under certain circumstances; creation of local land bank authorities authorized under certain conditions
Relating to land bank authorities; to amend Sections 24-9-4, 24-9-6, 24-9-10, 40-1-3, 40-10-1, 40-10-18, 40-10-29, 40-10-120, 40-10-184, and to add Sections 29-4-11 and 29-4-12 to the Code of Alabama 1975; to provide for the creation of multijurisdictional local land bank authorities; further authorize the acquisition of tax delinquent property and tax liens by local land bank authorities; further provide for the exemption of land bank authority property from taxes and fees; provide for the allocation of a portion of the ad valorem taxes on property conveyed by a land bank authority to the authority; further provide for the conveyance of land bank authority property; and authorize the Governor to create a local land bank authority in the event of a state of emergency.
Land bank authorities, creation of local land bank authorities, acquisition of property, taxes and fees, coneyance, Secs. 29-4-11, 29-4-12 added; Secs. 24-9-4, 24-9-6, 24-9-10, 40-1-3, 40-10-1, 40-10-18, 40-10-29, 40-10-120, 40-10-184 am'd.
An Act Concerning The Acquisition And Conveyance Of Certain Properties By Connecticut Brownfield Land Banks.
Alabama Land Bank Authority, exempt certain property that may be acquired by a Land Bank Authority and allow redemption of property acquired by authority, Secs. 24-9-4, 24-9-6, 24-9-7, 24-9-10 am'd.
Authorizing local taxing authorities to provide for tax exemptions for improvements and redevelopment of certain underutilized property
Study Commission on the Sale of Naming Rights to State-Owned Land, Properties, and Buildings, created
Property taxation: revenue allocations: tax-defaulted property sales.
State finance: authorities; land bank fast track act taxable status; modify. Amends secs. 4, 13 & 14 of 2003 PA 258 (MCL 124.754 et seq.).
Changes certain allocations and amounts of constitutionally dedicated CBT revenues for Fiscal Year 2026 and thereafter; authorizes Garden State Preservation Trust and local governments to acquire lands in urban areas for agricultural or horticultural purposes.