Alabama 2025 Regular Session

Alabama Senate Bill SB342 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	SB342INTRODUCED
2	2	Page 0
3	3	SB342
4	4	FKIXSCC-1
5	5	By Senators Coleman-Madison, Coleman, Smitherman, Stewart,
6	6	Singleton, Hatcher
7	7	RFD: County and Municipal Government
8	8	First Read: 22-Apr-25
9	9	1
10	10	2
11	11	3
12	12	4
13	13	5
14	14	6 FKIXSCC-1 04/17/2025 TRP (L)bm 2025-1616
15	15	Page 1
16	16	First Read: 22-Apr-25
17	17	SYNOPSIS:
18	18	Under existing law, the acquisition of real
19	19	property by local land bank authorities is subject to
20	20	certain restrictions on the procedure, geographic
21	21	location, and costs.
22	22	This bill would provide a shortened redemption
23	23	period for a tax delinquent property that is not
24	24	acquired by an open market bidder at a tax sale
25	25	auction, would authorize a local government or a local
26	26	land bank authority to purchase property at public
27	27	auction by tendering the minimum bid in the absence of
28	28	open market bids, and would limit the geographical
29	29	boundaries of local land bank authority acquisitions.
30	30	This bill would provide for the creation of
31	31	multijurisdictional local land bank authorities by
32	32	intergovernmental agreements and a property tax
33	33	exemption for a property owned by a local land bank
34	34	authority; authorize local governments to allocate a
35	35	portion of local property tax revenues to local land
36	36	bank authorities; authorize a local land bank authority
37	37	to convey properties to state and local governments for
38	38	flood plain management and storm water drainage; and
39	39	authorize the Governor to create a local land bank
40	40	authority by executive order following a declaration of
41	41	state of emergency.
42	42	1
43	43	2
44	44	3
45	45	4
46	46	5
47	47	6
48	48	7
49	49	8
50	50	9
51	51	10
52	52	11
53	53	12
54	54	13
55	55	14
56	56	15
57	57	16
58	58	17
59	59	18
60	60	19
61	61	20
62	62	21
63	63	22
64	64	23
65	65	24
66	66	25
67	67	26
68	68	27
69	69	28 SB342 INTRODUCED
70	70	Page 2
71	71	state of emergency.
72	72	This bill would also make nonsubstantive,
73	73	technical revisions to update the existing code
74	74	language to current style.
75	75	A BILL
76	76	TO BE ENTITLED
77	77	AN ACT
78	78	Relating to land bank authorities; to amend Sections
79	79	24-9-4, 24-9-5, 24-9-6, 24-9-7, 24-9-8, 24-9-10, 40-1-3,
80	80	40-10-1, 40-10-18, 40-10-29, 40-10-120, and Sections 40-10-184
81	81	and 40-10-199 as last amended by Act 2024-324 of the 2024
82	82	Regular Session, Code of Alabama 1975; to add Sections 24-9-11
83	83	and 24-9-12 to the Code of Alabama 1975; to provide for the
84	84	creation of multijurisdictional local land bank authorities;
85	85	to further authorize the acquisition of tax delinquent
86	86	property and tax liens by local land bank authorities; to
87	87	further provide for the exemption of local land bank authority
88	88	property from taxes and fees; to provide for the allocation of
89	89	a portion of the ad valorem taxes on certain property conveyed
90	90	to a local land bank authority to the authority; to further
91	91	provide for the conveyance of local land bank authority
92	92	property; to authorize the Governor to create local land bank
93	93	authorities in the event of a state of emergency; and to make
94	94	nonsubstantive, technical revisions to update the existing
95	95	code language to current style.
96	96	BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
97	97	29
98	98	30
99	99	31
100	100	32
101	101	33
102	102	34
103	103	35
104	104	36
105	105	37
106	106	38
107	107	39
108	108	40
109	109	41
110	110	42
111	111	43
112	112	44
113	113	45
114	114	46
115	115	47
116	116	48
117	117	49
118	118	50
119	119	51
120	120	52
121	121	53
122	122	54
123	123	55
124	124	56 SB342 INTRODUCED
125	125	Page 3
126	126	BE IT ENACTED BY THE LEGISLATURE OF ALABAMA:
127	127	Section 1. Sections 24-9-4, 24-9-5, 24-9-6, 24-9-7,
128	128	24-9-8, 24-9-10, 40-1-3, 40-10-1, 40-10-18, 40-10-29,
129	129	40-10-120, and Sections 40-10-184, and 40-10-199 as last
130	130	amended by Act 2024-324 of the 2024 Regular Session, as last
131	131	amended by Code of Alabama 1975, are amended to read as
132	132	follows:
133	133	"§24-9-4
134	134	When used in the chapter, the following words shall
135	135	have the following meanings:
136	136	(1) AGREEMENT. The intergovernmental cooperation
137	137	agreement entered into between an authority and a local land
138	138	bank authority by the parties pursuant to this chapter.
139	139	(2) AUTHORITY. The Alabama Land Bank Authority.
140	140	(3) BOARD. The Alabama Land Bank Authority Board.
141	141	(4) LOCAL LAND BANK AUTHORITY. A local land bank
142	142	authority created by a county or municipality as provided in
143	143	Section 24-9-10.
144	144	(5) PROPERTY. Real property, including any improvements
145	145	thereon.
146	146	(6) TAX-DELINQUENT PROPERTY. Any property on which the
147	147	taxes levied and assessed by any party remain in whole or in
148	148	part unpaid on the date due and payable."
149	149	"§24-9-5
150	150	(a) There is created the Alabama Land Bank Authority
151	151	Board which shall govern the authority to administer and
152	152	enforce this chapter.
153	153	(b) The board shall consist of the following members:
154	154	(1) Four residents of the state appointed by the
155	155	57
156	156	58
157	157	59
158	158	60
159	159	61
160	160	62
161	161	63
162	162	64
163	163	65
164	164	66
165	165	67
166	166	68
167	167	69
168	168	70
169	169	71
170	170	72
171	171	73
172	172	74
173	173	75
174	174	76
175	175	77
176	176	78
177	177	79
178	178	80
179	179	81
180	180	82
181	181	83
182	182	84 SB342 INTRODUCED
183	183	Page 4
184	184	(1) Four residents of the state appointed by the
185	185	Governor.
186	186	(2) Two representatives from nonprofit organizations
187	187	engaged in low-income housing appointed by the Governor.
188	188	(3) The Presiding Officer of the Senate or his or her
189	189	designee.
190	190	(4) The Speaker of the House of Representatives or his
191	191	or her designee.
192	192	(5) The Chair of the Senate Finance and Taxation
193	193	General Fund Committee or his or her designee.
194	194	(6) The Chair of the House Ways and Means General Fund
195	195	Committee or his or her designee.
196	196	(7) The State Revenue Commissioner or his or her
197	197	designee.
198	198	(8) The Superintendent of the State Banking Department
199	199	or his or her designee.
200	200	(9) The Director of the Alabama Department of Economic
201	201	and Community Affairs or his or her designee.
202	202	(10) The Secretary of the Alabama Department of
203	203	Commerce or his or her designee.
204	204	(11) The State Finance Director or his or her designee.
205	205	(12) The Chair of the Alabama Housing Finance Authority
206	206	or his or her designee.
207	207	(13) The Administrator of the Alabama Credit Union
208	208	Administration or his or her designee.
209	209	(c) The members of the board shall serve four
210	210	yearfour-year terms. In appointing the initial members of the
211	211	board under subdivision (b)(1) of subsection (b) , the Governor
212	212	shall designate two to serve four years, one to serve three
213	213	85
214	214	86
215	215	87
216	216	88
217	217	89
218	218	90
219	219	91
220	220	92
221	221	93
222	222	94
223	223	95
224	224	96
225	225	97
226	226	98
227	227	99
228	228	100
229	229	101
230	230	102
231	231	103
232	232	104
233	233	105
234	234	106
235	235	107
236	236	108
237	237	109
238	238	110
239	239	111
240	240	112 SB342 INTRODUCED
241	241	Page 5
242	242	shall designate two to serve four years, one to serve three
243	243	years, and one to serve two years.
244	244	(d) Members of the board shall receive reimbursement
245	245	for expenses incurred in the performance of their duties but
246	246	no other compensation.
247	247	(e) The board may employ the necessary personnel for
248	248	the performance of its functions and fix their compensation.
249	249	(f) The board shall elect from its membership a chair,
250	250	vice chair, and secretary-treasurer. The board shall adopt
251	251	rules to govern its proceedings. A majority of the membership
252	252	of the board shall constitute a quorum for all meetings.
253	253	Approval by a majority of the membership shall be necessary
254	254	for any action to be taken by the authority. All meetings
255	255	shall be open to the public, except as otherwise permitted by
256	256	the Alabama Open Meetings Act, and a written record shall be
257	257	maintained of all meetings.
258	258	(g) The membership of the board shall be inclusive and
259	259	reflect the racial, gender, geographic, urban/rural urban,
260	260	rural, and economic diversity of the state.
261	261	(h) The board, when acting in its official capacity,
262	262	its members, and the authority shall be immune from civil
263	263	liability against the claims of any individual or other entity
264	264	of any nature whatsoever arising out of its ownership or
265	265	administration of properties or related to its decisions or
266	266	actions, which decisions or actions were made in good faith,
267	267	without malice, and predicated upon information which was then
268	268	available to the board.
269	269	(i) The authority shall be a public body corporate and
270	270	politic with the power to accept and issue deeds in its name,
271	271	113
272	272	114
273	273	115
274	274	116
275	275	117
276	276	118
277	277	119
278	278	120
279	279	121
280	280	122
281	281	123
282	282	124
283	283	125
284	284	126
285	285	127
286	286	128
287	287	129
288	288	130
289	289	131
290	290	132
291	291	133
292	292	134
293	293	135
294	294	136
295	295	137
296	296	138
297	297	139
298	298	140 SB342 INTRODUCED
299	299	Page 6
300	300	politic with the power to accept and issue deeds in its name,
301	301	including, without limitation, the acceptance of real property
302	302	in accordance with this chapter, and to institute quiet title
303	303	actions as provided in Section 24-9-8, and shall have any
304	304	other powers necessary and incidental to carry out the powers
305	305	and the purpose granted by this chapter.
306	306	(j) In addition to the tax-delinquent property acquired
307	307	by the authority as provided herein, the authority may
308	308	acquire, by purchase, donation, or exchange, other publicly
309	309	owned property from local governments, including that which
310	310	was acquired years earlier as a result of foreclosure
311	311	proceedings of that property, or property that has become
312	312	surplus. The authority may also acquire property through
313	313	voluntary donations and transfers from private owners and may
314	314	acquire by purchase or lease on the open market property from
315	315	a private owner to complete an assemblage of property for
316	316	redevelopment.
317	317	(k) No later than October 1, 2018, the State Revenue
318	318	Commissioner or his or her designee shall convene the first
319	319	meeting of the authority."
320	320	"§24-9-6
321	321	(a) The authority, at such times as it deems to be
322	322	appropriate, may submit a written request to the Land
323	323	Commissioner of the Alabama Department of Revenue for the
324	324	transfer of the state's interest in certain properties to the
325	325	authority. Upon receipt of such the request, the Land
326	326	Commissioner shall issue a tax deed conveying the state's
327	327	interest in the property to the authority. The authority shall
328	328	not be required to pay the amount deemed to have been bid to
329	329	141
330	330	142
331	331	143
332	332	144
333	333	145
334	334	146
335	335	147
336	336	148
337	337	149
338	338	150
339	339	151
340	340	152
341	341	153
342	342	154
343	343	155
344	344	156
345	345	157
346	346	158
347	347	159
348	348	160
349	349	161
350	350	162
351	351	163
352	352	164
353	353	165
354	354	166
355	355	167
356	356	168 SB342 INTRODUCED
357	357	Page 7
358	358	not be required to pay the amount deemed to have been bid to
359	359	cover delinquent taxes or any other amount in order to obtain
360	360	the tax deed.
361	361	(b)(1) Delinquent property that may be transferred by
362	362	the Land Commissioner to the authority shall be limited to
363	363	parcels located outside the geographic boundaries of a local
364	364	land bank authority that have been bid in for the state
365	365	pursuant to Chapter 10 of Title 40 for at least three years
366	366	and the state's interest in real property acquired pursuant to
367	367	Chapter 29 of Title 40 for delinquent taxes administered by
368	368	the state and held for at least three years. The three-year
369	369	period shall not apply to properties encumbered by one or more
370	370	housing, building code, or nuisance abatement liens.
371	371	(2) The Land Commissioner or his or her agents or
372	372	assistants may adopt rules necessary to transfer such the
373	373	properties to the authority.
374	374	(c) The authority shall administer properties acquired
375	375	by it as follows:
376	376	(1) All property acquired by the authority shall be
377	377	inventoried and the inventory shall be maintained as a public
378	378	record.
379	379	(2) The authority shall have the power to manage,
380	380	maintain, protect, rent, lease, repair, insure, alter, sell,
381	381	trade, exchange, or otherwise dispose of any property acquired
382	382	pursuant to subsection (b)(1), on terms and conditions
383	383	determined in the sole discretion of the authority.
384	384	(d) Nothing contained in Act 2013-249 shall be
385	385	construed to grant any power of eminent domain to the
386	386	authority or any local authority."
387	387	169
388	388	170
389	389	171
390	390	172
391	391	173
392	392	174
393	393	175
394	394	176
395	395	177
396	396	178
397	397	179
398	398	180
399	399	181
400	400	182
401	401	183
402	402	184
403	403	185
404	404	186
405	405	187
406	406	188
407	407	189
408	408	190
409	409	191
410	410	192
411	411	193
412	412	194
413	413	195
414	414	196 SB342 INTRODUCED
415	415	Page 8
416	416	authority or any local authority."
417	417	"§24-9-7
418	418	(a) The authority shall adopt rules for the disposition
419	419	of property in which the authority holds a legal interest,
420	420	which rules shall address the conditions set forth in this
421	421	section.
422	422	(b) The authority may manage, maintain, protect, rent,
423	423	repair, insure, alter, convey, sell, transfer, exchange, lease
424	424	as lessor, or otherwise dispose of property or rights or
425	425	interests in property in which the authority holds a legal
426	426	interest to any public or private person for value determined
427	427	by the authority on terms and conditions, and in a manner and
428	428	for an amount of consideration the authority considers proper,
429	429	fair, and valuable, including for no monetary consideration.
430	430	The transfer and use of property under this section and the
431	431	exercise by the authority of powers and duties under Act
432	432	2013-249 shall be considered a necessary public purpose and
433	433	for the benefit of the public.
434	434	(c)(1) Before the authority may sell, lease, exchange,
435	435	trade, or otherwise dispose of any property, it shall either:
436	436	(1)a. Establish a purchase price and conditions for
437	437	sale purposes.;
438	438	(2)b. Establish a price and conditions for rent or
439	439	lease purposes.; or
440	440	(3)c. Establish the conditions for trade, exchange, or
441	441	other disposal of the property.
442	442	(2) The conditions made pursuant to this
443	443	subsectionsubdivision (1) may include a requirement that the
444	444	transferee must provide a development plan or execute a
445	445	197
446	446	198
447	447	199
448	448	200
449	449	201
450	450	202
451	451	203
452	452	204
453	453	205
454	454	206
455	455	207
456	456	208
457	457	209
458	458	210
459	459	211
460	460	212
461	461	213
462	462	214
463	463	215
464	464	216
465	465	217
466	466	218
467	467	219
468	468	220
469	469	221
470	470	222
471	471	223
472	472	224 SB342 INTRODUCED
473	473	Page 9
474	474	transferee must provide a development plan or execute a
475	475	development agreement with the authority specifying the
476	476	transferee's commitments regarding the development of the
477	477	property and the time frame within which the development must
478	478	occur, the range of permitted uses for the property, and any
479	479	restrictions on its subsequent resale or transfer.
480	480	(d) The disposition of property by the authority shall
481	481	not be governed by any laws or rules otherwise applicable to
482	482	the disposition of property by a state or local agency.
483	483	Provided, however, that, prior to the disposition of property,
484	484	the authority shall give notice of its intent to dispose of
485	485	any property for which notice was not previously advertised by
486	486	the Commissioner of Revenue, or his or her designee, or by a
487	487	local official in a manner as prescribed by the authority and
488	488	shall include in the notice the date, time, and place at which
489	489	persons objecting to the intended action must appear. If no
490	490	objection is made within 30 days from the date of the notice,
491	491	the authority may proceed with the disposition of the property
492	492	as noticed without a public auction.
493	493	(e) No property shall be sold, traded, exchanged, or
494	494	otherwise disposed of by the authority to any entity for
495	495	investment purposes only and with no intent to use the
496	496	property other than to transfer the property at a future date
497	497	for monetary gain.
498	498	(f) The authority shall not sell, trade, exchange, or
499	499	otherwise dispose of any property held by the authority to any
500	500	party who had an interest in the property at the time it was
501	501	tax delinquent or to any party who transferred the party's
502	502	interest in the property to the authority by sale, trade,
503	503	225
504	504	226
505	505	227
506	506	228
507	507	229
508	508	230
509	509	231
510	510	232
511	511	233
512	512	234
513	513	235
514	514	236
515	515	237
516	516	238
517	517	239
518	518	240
519	519	241
520	520	242
521	521	243
522	522	244
523	523	245
524	524	246
525	525	247
526	526	248
527	527	249
528	528	250
529	529	251
530	530	252 SB342 INTRODUCED
531	531	Page 10
532	532	interest in the property to the authority by sale, trade,
533	533	exchange, or otherwise, unless the person pays all the taxes,
534	534	interest, municipal liens, penalties, fees, and any other
535	535	charges due and owing under Chapter 10 and Chapter 29 of Title
536	536	40, including the amount to the Land Commissioner had the
537	537	property not been transferred to the authority.
538	538	(g) Except as otherwise provided in this section, the
539	539	authority shall have full discretion in determining the sale
540	540	price of the property. No purchaser from the authority shall
541	541	be responsible for the proper disposition of the proceeds paid
542	542	to the authority for the purchase of property. "
543	543	"§24-9-8
544	544	(a) The authority may initiate a quiet title action
545	545	under this section to quiet title to real property held by the
546	546	authority or interests in tax delinquent property held by the
547	547	authority by undertaking the examination of title as required
548	548	in subsection (b) and thereafter filing the petition as
549	549	provided in subsection (c). Following the filing of the
550	550	petition, the authority shall record with the office of the
551	551	judge of probate in the county in which the property subject
552	552	to quiet title action is located a notice of pending quiet
553	553	title action. The notice shall include the name of the
554	554	taxpayer whose interest was affected by the tax sale; the name
555	555	of any other party as revealed by a search and examination of
556	556	the title to the property who may claim an interest in the
557	557	property; a legal description of the property; the street
558	558	address of the property if available; the name, address, and
559	559	telephone number of the authority; a statement that the
560	560	property is subject to the quiet title proceedings under Act
561	561	253
562	562	254
563	563	255
564	564	256
565	565	257
566	566	258
567	567	259
568	568	260
569	569	261
570	570	262
571	571	263
572	572	264
573	573	265
574	574	266
575	575	267
576	576	268
577	577	269
578	578	270
579	579	271
580	580	272
581	581	273
582	582	274
583	583	275
584	584	276
585	585	277
586	586	278
587	587	279
588	588	280 SB342 INTRODUCED
589	589	Page 11
590	590	property is subject to the quiet title proceedings under Act
591	591	2013-249; a statement that any legal interests in the property
592	592	may be extinguished by a circuit court order vesting title to
593	593	the property in the authority; and the date, time, and place
594	594	of the hearing on the petition to quiet title. Notwithstanding
595	595	anything in this chapter to the contrary, no quiet title
596	596	action and nothing in this chapter shall affect any right,
597	597	title, or interest, whether recorded or unrecorded, in the
598	598	subject property which was held at the time of the tax sale by
599	599	any person or entity engaged in the generation, transmission,
600	600	or distribution of electric power, natural gas, or
601	601	telecommunications.
602	602	(b) After the notice required under subsection (a) has
603	603	been recorded, Prior to filing the petition described in
604	604	subsection (a), the record title to the property shall be
605	605	examined and an opinion of title rendered by an attorney at
606	606	law, who is licensed to practice law in this state, or a
607	607	certificate of title shall be prepared by a title agent or
608	608	title insurer duly licensed under the Alabama Title Insurance
609	609	Act as set out in Section 27-25-1 , et seq., for the benefit of
610	610	the authority in order to identify all owners of an interest
611	611	in the property.
612	612	(c) Once the authority has identified the owners of
613	613	interest in the property, the authority shall file a single
614	614	petition with the clerk of the circuit court for the judicial
615	615	district in which the property subject to foreclosure under
616	616	this section is located listing all property subject to
617	617	foreclosure by the authority and for which the authority seeks
618	618	to quiet title. No such action shall be subject to the payment
619	619	281
620	620	282
621	621	283
622	622	284
623	623	285
624	624	286
625	625	287
626	626	288
627	627	289
628	628	290
629	629	291
630	630	292
631	631	293
632	632	294
633	633	295
634	634	296
635	635	297
636	636	298
637	637	299
638	638	300
639	639	301
640	640	302
641	641	303
642	642	304
643	643	305
644	644	306
645	645	307
646	646	308 SB342 INTRODUCED
647	647	Page 12
648	648	to quiet title. No such action shall be subject to the payment
649	649	of filing fees. The list of properties shall include a legal
650	650	description of, a tax parcel identification number for, and
651	651	the street address of each parcel or property. The petition
652	652	shall seek a judgment in favor of the authority against each
653	653	property listed and shall include a date, within 90 days, on
654	654	which the authority requests a hearing on the petition. The
655	655	petition shall request that a judgment be entered vesting
656	656	absolute title in the authority, without right of redemption
657	657	for each parcel of property listed, as provided in this
658	658	section. At any time during the pendency of this action, the
659	659	authority may file a motion to release or dismiss a certain
660	660	parcel or parcels of land from the petition, which release
661	661	will not affect the remaining parcels of land subject to the
662	662	petition.
663	663	(d) The case shall be docketed in the circuit court by
664	664	the clerk, and shall be a preferred case therein. The circuit
665	665	court in which a petition is filed under subsection (c) shall
666	666	immediately set the date, time, and place for a hearing on the
667	667	petition for quiet title. In no event may the clerk schedule
668	668	the hearing later than 90 days after the filing of a petition
669	669	by the authority under subsection (c). The court, on the
670	670	request of a party or as needed to allow completion of service
671	671	of process on all interested persons, and to allow those
672	672	persons 30 days after service of process to file an answer or
673	673	other responsive pleadings to the petition, may extend the
674	674	90-day period for good cause shown.
675	675	(e) The authority shall serve all persons having record
676	676	title or interest in or lien upon the property with a notice
677	677	309
678	678	310
679	679	311
680	680	312
681	681	313
682	682	314
683	683	315
684	684	316
685	685	317
686	686	318
687	687	319
688	688	320
689	689	321
690	690	322
691	691	323
692	692	324
693	693	325
694	694	326
695	695	327
696	696	328
697	697	329
698	698	330
699	699	331
700	700	332
701	701	333
702	702	334
703	703	335
704	704	336 SB342 INTRODUCED
705	705	Page 13
706	706	title or interest in or lien upon the property with a notice
707	707	of the hearing on the petition to quiet title. SuchThe service
708	708	shall be attempted by personal service and by certified mail;
709	709	provided if service is perfected by either method, the service
710	710	will be sufficient to provide service of process upon all
711	711	persons having record title or interest in or lien upon the
712	712	property. If the persons entitled to service are located
713	713	outside the county, they may be served by certified mail.
714	714	(f) The notice required under subsection (e) shall
715	715	include:
716	716	(1) The date on which the authority recorded, under
717	717	subsection (a), the notice of the pending quiet title and
718	718	foreclosure action .;
719	719	(2) A statement that a person with a property interest
720	720	in the property may lose such the interest, if any, as a
721	721	result of the quiet title and foreclosure hearing .;
722	722	(3) A legal description, tax parcel identification
723	723	number of the property, and the street address of the
724	724	property.;
725	725	(4) The date and time of the hearing on the petition
726	726	for quiet title and a statement that the judgment of the court
727	727	may result in title to the property vesting in the authority .;
728	728	(5) An explanation of any rights of redemption and
729	729	notice that the judgment of the court may extinguish any
730	730	ownership interest in or right to redeem the property .; and
731	731	(6) The name, address, and telephone number of the
732	732	authority.
733	733	(g) In the event the sheriff is unable to perfect
734	734	service or certified mail attempts are returned unclaimed, the
735	735	337
736	736	338
737	737	339
738	738	340
739	739	341
740	740	342
741	741	343
742	742	344
743	743	345
744	744	346
745	745	347
746	746	348
747	747	349
748	748	350
749	749	351
750	750	352
751	751	353
752	752	354
753	753	355
754	754	356
755	755	357
756	756	358
757	757	359
758	758	360
759	759	361
760	760	362
761	761	363
762	762	364 SB342 INTRODUCED
763	763	Page 14
764	764	service or certified mail attempts are returned unclaimed, the
765	765	authority shall conduct a search for the person with an
766	766	interest in the property conveyed to the authority.
767	767	(1) The search, at a minimum, shall include the
768	768	following:
769	769	a. An examination of the addresses given on the face of
770	770	the instrument vesting interest or the addresses given to the
771	771	clerk of the probate court by the transfer declaration form.
772	772	b. A search of the current telephone directory
773	773	electronic telephone databases for the municipality and the
774	774	county in which the property is located.
775	775	c. A letter of inquiry to the person who sold the
776	776	property to the owner whose interest was sold in the tax sale
777	777	at the address shown in the transfer tax declaration or in the
778	778	telephone directory electronic telephone databases .
779	779	d. A letter of inquiry to the attorney handling the
780	780	closing prior to the tax sale if such the information is
781	781	provided on the deed forms.
782	782	(2) A sign being no less than four feet by four feet
783	783	shall be erected on the property and maintained by the
784	784	authority for a minimum of 30 days reading as follows:
785	785	"THIS PROPERTY HAS BEEN CONVEYED TO THE ________ LAND
786	786	BANK AUTHORITY AND IS SUBJECT TO A QUIET TITLE ACTION. PERSONS
787	787	WITH INFORMATION REGARDING THE PRIOR OWNERSHIP OF OR INTEREST
788	788	IN THE PROPERTY ARE REQUESTED TO CONTACT THE LAND BANK
789	789	AUTHORITY AT _________."
790	790	(3) Any additional parties who are identified as having
791	791	an interest in the property shall be provided notice in
792	792	accordance with this section.
793	793	365
794	794	366
795	795	367
796	796	368
797	797	369
798	798	370
799	799	371
800	800	372
801	801	373
802	802	374
803	803	375
804	804	376
805	805	377
806	806	378
807	807	379
808	808	380
809	809	381
810	810	382
811	811	383
812	812	384
813	813	385
814	814	386
815	815	387
816	816	388
817	817	389
818	818	390
819	819	391
820	820	392 SB342 INTRODUCED
821	821	Page 15
822	822	accordance with this section.
823	823	(h) If the interested party is an individual, the
824	824	authority shall examine voter registration lists, available
825	825	municipal archives for records of deaths, and the probate
826	826	court records of estates opened in the county in which the
827	827	property is located.
828	828	(i) If the interested party is a business entity, the
829	829	authority shall search the records of the Secretary of State
830	830	for the name and address of a registered agent.
831	831	(j) If an interested party appears at the hearing and
832	832	asserts a right to redeem the property, that party may redeem
833	833	in accordance with Chapter 10 and Chapter 29 of Title 40.
834	834	(k)(1) If the authority has made the search as required
835	835	by this section and been unable to locate those persons
836	836	required to be served under subsection (e), and has located
837	837	additional addresses of those persons through the search and
838	838	attempted without success to serve those persons in either
839	839	manner provided by subsection (e), the authority shall provide
840	840	notice by publication. Prior to the hearing, a notice shall be
841	841	published once each week for three successive weeks in a
842	842	newspaper of general circulation in the county in which the
843	843	property is located. If no paper is published in that county,
844	844	publication shall be made in a newspaper of general
845	845	circulation in an adjoining county. This publication shall
846	846	substitute for notice under this subsection or subsection (g).
847	847	The published notice shall include the information required in
848	848	subsection (f). Should the identity of some or all of the
849	849	persons who may have an interest in the property be unknown,
850	850	or should such the persons be infants or persons of unsound
851	851	393
852	852	394
853	853	395
854	854	396
855	855	397
856	856	398
857	857	399
858	858	400
859	859	401
860	860	402
861	861	403
862	862	404
863	863	405
864	864	406
865	865	407
866	866	408
867	867	409
868	868	410
869	869	411
870	870	412
871	871	413
872	872	414
873	873	415
874	874	416
875	875	417
876	876	418
877	877	419
878	878	420 SB342 INTRODUCED
879	879	Page 16
880	880	or should such the persons be infants or persons of unsound
881	881	mind, the court shall appoint a guardian ad litem to represent
882	882	and defend the interests of such the unknown, infant the
883	883	infants, or incompetent the persons of unsound mind who are
884	884	parties in the action.
885	885	(2) A person claiming an interest in a parcel of
886	886	property set forth in the quiet title action who desires to
887	887	contest that petition shall file an answer containing written
888	888	objections with the clerk of the circuit court and serve those
889	889	objections on the authority before the date of the hearing.
890	890	The circuit court may appoint and utilize as the court
891	891	considers necessary a special master for assistance with the
892	892	resolution of any objections to the quiet title action or
893	893	questions regarding the title to property subject thereto.
894	894	Within 30 days following the hearing, the circuit court shall
895	895	enter judgment on a petition to quiet title. The circuit
896	896	court's judgment shall specify all of the following:
897	897	a. The legal description, tax parcel identification
898	898	number, and, if known, the street address of the subject
899	899	property.
900	900	b. That fee simple title to the property by the
901	901	judgment is vested absolutely in the authority, except as
902	902	otherwise provided in paragraph e., without any further rights
903	903	of redemption.
904	904	c. That all liens against the property, including any
905	905	lien for unpaid taxes or special assessments, are
906	906	extinguished.
907	907	d. That, except as otherwise provided in paragraph e.,
908	908	the authority has good and marketable fee simple title to the
909	909	421
910	910	422
911	911	423
912	912	424
913	913	425
914	914	426
915	915	427
916	916	428
917	917	429
918	918	430
919	919	431
920	920	432
921	921	433
922	922	434
923	923	435
924	924	436
925	925	437
926	926	438
927	927	439
928	928	440
929	929	441
930	930	442
931	931	443
932	932	444
933	933	445
934	934	446
935	935	447
936	936	448 SB342 INTRODUCED
937	937	Page 17
938	938	the authority has good and marketable fee simple title to the
939	939	property.
940	940	e. That all existing recorded and unrecorded interests
941	941	in the property are extinguished, except a recorded easement
942	942	or right-of-way, restrictive covenant, prior reservation or
943	943	severance of all mineral, mining, oil, and gas rights within
944	944	and underlying the property, such the state of facts as shown
945	945	on recorded plats, or restrictions or covenants imposed under
946	946	the Alabama Land Recycling and Economic Development Act or any
947	947	other environmental law in effect in the state, severed oil,
948	948	gas, and mineral rights and mineral leases and agreements are
949	949	excepted from Act 2013-249 and any quiet title action
950	950	authorized herein.
951	951	f. A finding that all persons entitled to notice and an
952	952	opportunity to be heard have been provided that notice and
953	953	opportunity and that the authority provided notice to all
954	954	interested parties or that the authority complied with the
955	955	notice procedures in subdivision (1), which compliance shall
956	956	create a rebuttable presumption that all interested parties
957	957	received notice and an opportunity to be heard.
958	958	(l) Except as otherwise provided in paragraph (k)(2)e.,
959	959	fee simple title to property set forth in a petition for quiet
960	960	title filed under subsection (c) shall vest absolutely in the
961	961	authority upon the effective date of the judgment by the
962	962	circuit court and the authority shall have absolute title to
963	963	the property. The authority's title is not subject to any
964	964	recorded or unrecorded lien, except as provided in paragraph
965	965	(k)(2)e. and shall not be stayed except as provided in
966	966	subsection (m). A judgment entered under this section is a
967	967	449
968	968	450
969	969	451
970	970	452
971	971	453
972	972	454
973	973	455
974	974	456
975	975	457
976	976	458
977	977	459
978	978	460
979	979	461
980	980	462
981	981	463
982	982	464
983	983	465
984	984	466
985	985	467
986	986	468
987	987	469
988	988	470
989	989	471
990	990	472
991	991	473
992	992	474
993	993	475
994	994	476 SB342 INTRODUCED
995	995	Page 18
996	996	subsection (m). A judgment entered under this section is a
997	997	final order with respect to the property affected by the
998	998	judgment.
999	999	(m) The authority or a person claiming to have an
1000	1000	interest in property under this section may within 42 days
1001	1001	following the effective date of the judgment under subsection
1002	1002	(k) appeal the circuit court's judgment quieting title to the
1003	1003	property to the court of appeals. An appeal under this
1004	1004	subsection is limited to the record of the proceedings in the
1005	1005	circuit court under this section. In the event of a timely
1006	1006	appeal, the circuit court's judgment quieting title to the
1007	1007	property shall be stayed until the court of appeals has
1008	1008	reversed, modified, or affirmed that judgment. If an appeal
1009	1009	under this subsection stays the circuit court's judgment, the
1010	1010	circuit court's judgment is stayed only as to the property
1011	1011	that is the subject of that appeal and the circuit court's
1012	1012	judgment quieting title to other property that is not the
1013	1013	subject of that appeal is not stayed.
1014	1014	(n) The authority shall record an order of judgment for
1015	1015	each parcel of property in the office of the judge of probate
1016	1016	for the county in which the subject property is located.
1017	1017	(o) Notwithstanding the limitation of actions,
1018	1018	requirements for adverse possession under, any other
1019	1019	provisions of Section 40-10-82, or any other law, the
1020	1020	authority may initiate a quiet title action under this section
1021	1021	at any time after acquiring an interest in the property which
1022	1022	is subject to the action. A final decree of an action properly
1023	1023	filed in compliance with this section shall extinguish all
1024	1024	outstanding rights of redemption."
1025	1025	477
1026	1026	478
1027	1027	479
1028	1028	480
1029	1029	481
1030	1030	482
1031	1031	483
1032	1032	484
1033	1033	485
1034	1034	486
1035	1035	487
1036	1036	488
1037	1037	489
1038	1038	490
1039	1039	491
1040	1040	492
1041	1041	493
1042	1042	494
1043	1043	495
1044	1044	496
1045	1045	497
1046	1046	498
1047	1047	499
1048	1048	500
1049	1049	501
1050	1050	502
1051	1051	503
1052	1052	504 SB342 INTRODUCED
1053	1053	Page 19
1054	1054	outstanding rights of redemption."
1055	1055	"§24-9-10
1056	1056	(a) If the number of tax delinquent properties in a
1057	1057	municipality exceeds 100, then the governing body of a
1058	1058	municipality may adopt a resolution declaring that it is wise,
1059	1059	expedient, and necessary that a local land bank authority be
1060	1060	formed by the municipality by the filing for record of a
1061	1061	certificate of incorporation in accordance with the provisions
1062	1062	of subsection (c)(d).
1063	1063	(b) If the number of tax delinquent properties in a
1064	1064	municipality county exceeds 100, then the governing body of a
1065	1065	county may adopt a resolution declaring that it is wise,
1066	1066	expedient, and necessary that a local land bank authority be
1067	1067	formed by the county by the filing for record of a certificate
1068	1068	of incorporation in accordance with the provisions of
1069	1069	subsection (c)(d).
1070	1070	(c) A county and a municipality located within that
1071	1071	county may create a single land bank authority by an
1072	1072	intergovernmental agreement, so long as both the county and
1073	1073	the municipality each meet the criteria of subsections (a) and
1074	1074	(b). The intergovernmental agreement shall comply with all
1075	1075	provisions of subsections (d) and (e) and Chapter 102 of Title
1076	1076	11.
1077	1077	(d) Upon the adoption of the authorizing resolution,
1078	1078	the municipality or county, as the case may be, shall proceed
1079	1079	to incorporate the local land bank authority by filing for
1080	1080	record in the office of the judge of probate of the county a
1081	1081	certificate of incorporation which shall comply in form and
1082	1082	substance with the requirements of this section and which
1083	1083	505
1084	1084	506
1085	1085	507
1086	1086	508
1087	1087	509
1088	1088	510
1089	1089	511
1090	1090	512
1091	1091	513
1092	1092	514
1093	1093	515
1094	1094	516
1095	1095	517
1096	1096	518
1097	1097	519
1098	1098	520
1099	1099	521
1100	1100	522
1101	1101	523
1102	1102	524
1103	1103	525
1104	1104	526
1105	1105	527
1106	1106	528
1107	1107	529
1108	1108	530
1109	1109	531
1110	1110	532 SB342 INTRODUCED
1111	1111	Page 20
1112	1112	substance with the requirements of this section and which
1113	1113	shall be in the form and executed in the manner herein
1114	1114	provided. The certificate of incorporation of the local land
1115	1115	bank authority shall state all of the following:
1116	1116	(1) The name of the local unit of government forming
1117	1117	the local land bank authority.
1118	1118	(2) The name of the local land bank authority.
1119	1119	(3) The size of the initial governing body of the local
1120	1120	land bank authority, which shall be composed of an odd number
1121	1121	of members, but not less than five.
1122	1122	(4) The qualifications, method of selection, and terms
1123	1123	of office of the initial board members.
1124	1124	(5) A method for the adoption of bylaws by the
1125	1125	governing body of the local land bank authority.
1126	1126	(6) A method for the distribution of proceeds from the
1127	1127	activities of the local land bank authority.
1128	1128	(7) A method for the dissolution of the local land bank
1129	1129	authority.
1130	1130	(8) Any other matters considered advisable by the local
1131	1131	unit of government, consistent with Act 2013-249.
1132	1132	(d)(e) Following incorporation, a local land bank
1133	1133	authority may enter into an intergovernmental agreement with
1134	1134	the authority providing for the transfer to the local land
1135	1135	bank authority of any property held by the authority which is
1136	1136	located within the corporate limits of the municipality or the
1137	1137	boundary of the county which created the land bank.
1138	1138	(e)(f) A local land bank authority shall have all of
1139	1139	the powers of the authority as set forth in this chapter. In
1140	1140	addition, a local land bank authority shall have the following
1141	1141	533
1142	1142	534
1143	1143	535
1144	1144	536
1145	1145	537
1146	1146	538
1147	1147	539
1148	1148	540
1149	1149	541
1150	1150	542
1151	1151	543
1152	1152	544
1153	1153	545
1154	1154	546
1155	1155	547
1156	1156	548
1157	1157	549
1158	1158	550
1159	1159	551
1160	1160	552
1161	1161	553
1162	1162	554
1163	1163	555
1164	1164	556
1165	1165	557
1166	1166	558
1167	1167	559
1168	1168	560 SB342 INTRODUCED
1169	1169	Page 21
1170	1170	addition, a local land bank authority shall have the following
1171	1171	powers:
1172	1172	(1) To adopt, amend, and repeal bylaws for the
1173	1173	regulation of its affairs and the conduct of its business.
1174	1174	(2) To sue and be sued in its own name and to prosecute
1175	1175	and defend civil actions in any court having jurisdiction of
1176	1176	the subject matter and of the parties, including, but not
1177	1177	limited to, actions to clear title to the property of the
1178	1178	local land bank authority.
1179	1179	(3) To adopt and make use of a corporate seal and to
1180	1180	alter the same at its pleasure.
1181	1181	(4) To acquire by purchase, lease, or otherwise and to
1182	1182	hold, lease, and dispose of real or personal property of every
1183	1183	kind and character, or any interests therein, in furtherance
1184	1184	of the public purposes of the local land bank authority.
1185	1185	(5) To acquire, accept, or retain equitable interests,
1186	1186	security interests, or other interests in any real property,
1187	1187	personal property, or fixtures by loan agreement, note,
1188	1188	mortgage, trust deed, security agreement, assignment, pledge,
1189	1189	conveyance, contract, lien, or other consensual transfer in
1190	1190	order to secure credit extended by the local land bank
1191	1191	authority.
1192	1192	(6) To borrow from private lenders, from
1193	1193	municipalities, from the state, or from federal government
1194	1194	funds, as may be necessary, for the operation and work of the
1195	1195	local land bank authority.
1196	1196	(7) To issue negotiable revenue bonds and notes
1197	1197	according to the provisions of this chapter.
1198	1198	(8) To procure insurance or guarantees from the state
1199	1199	561
1200	1200	562
1201	1201	563
1202	1202	564
1203	1203	565
1204	1204	566
1205	1205	567
1206	1206	568
1207	1207	569
1208	1208	570
1209	1209	571
1210	1210	572
1211	1211	573
1212	1212	574
1213	1213	575
1214	1214	576
1215	1215	577
1216	1216	578
1217	1217	579
1218	1218	580
1219	1219	581
1220	1220	582
1221	1221	583
1222	1222	584
1223	1223	585
1224	1224	586
1225	1225	587
1226	1226	588 SB342 INTRODUCED
1227	1227	Page 22
1228	1228	(8) To procure insurance or guarantees from the state
1229	1229	or federal government for the payments of any debts or parts
1230	1230	of debts incurred by the local land bank authority, and to pay
1231	1231	premiums in connection with the insurance or guarantees.
1232	1232	(9) To enter into contracts and other instruments
1233	1233	necessary, incidental, or convenient to the performance of its
1234	1234	duties and the exercise of its powers, including, but not
1235	1235	limited to, intergovernmental agreements under Chapter 102 of
1236	1236	Title 11, for the joint exercise of powers under this chapter.
1237	1237	(10) To enter into contracts and other instruments
1238	1238	necessary, incidental, or convenient to the performance of
1239	1239	functions by the local land bank authority on behalf of
1240	1240	municipalities or agencies or departments of municipalities;
1241	1241	or the departments of municipalities; or of functions on
1242	1242	behalf of the local land bank authority.
1243	1243	(11) To procure insurance against losses in connection
1244	1244	with the real property, assets, or activities of the local
1245	1245	land bank authority.
1246	1246	(12) To invest money of the local land bank authority,
1247	1247	at the discretion of the board of directors, in instruments,
1248	1248	obligations, securities, or properties determined proper by
1249	1249	the board of directors, and name and use depositories for its
1250	1250	money.
1251	1251	(13) To hire and compensate employees and contractors,
1252	1252	to provide retirement and other forms of deferred
1253	1253	compensation, to provide fringe benefits, and to otherwise
1254	1254	contract with employees and contractors.
1255	1255	(1)(14) Without the approval of a local unit of
1256	1256	government in which property held by the local land bank
1257	1257	589
1258	1258	590
1259	1259	591
1260	1260	592
1261	1261	593
1262	1262	594
1263	1263	595
1264	1264	596
1265	1265	597
1266	1266	598
1267	1267	599
1268	1268	600
1269	1269	601
1270	1270	602
1271	1271	603
1272	1272	604
1273	1273	605
1274	1274	606
1275	1275	607
1276	1276	608
1277	1277	609
1278	1278	610
1279	1279	611
1280	1280	612
1281	1281	613
1282	1282	614
1283	1283	615
1284	1284	616 SB342 INTRODUCED
1285	1285	Page 23
1286	1286	government in which property held by the local land bank
1287	1287	authority is located, to control, hold, manage, maintain,
1288	1288	operate, repair, lease as lessor, secure, prevent the waste or
1289	1289	deterioration of, demolish, and take all other actions
1290	1290	necessary to preserve the value of the property it holds or
1291	1291	owns. AnA local land bank authority may take or perform the
1292	1292	following actions with respect to property held or owned by
1293	1293	the local land bank authority:
1294	1294	a. Grant or acquire a license, easement, or option with
1295	1295	respect to property as the local land bank authority
1296	1296	determines is reasonably necessary to achieve the purposes of
1297	1297	this chapter.
1298	1298	b. Fix, charge, and collect rents, fees, and charges
1299	1299	for use of property under the control of the local land bank
1300	1300	authority or for services provided by the local land bank
1301	1301	authority.
1302	1302	c. Pay any tax or special assessment due on property
1303	1303	acquired or owned by the local land bank authority.
1304	1304	d. Take any action, provide any notice, or institute
1305	1305	any proceeding required to clear or quiet title to property
1306	1306	held by the local land bank authority in order to establish
1307	1307	ownership by and vest title to property in the local land bank
1308	1308	authority, including, but not limited to, a quiet title and
1309	1309	foreclosure action pursuant to Section 24-9-8.
1310	1310	e. Remediate environmental contamination on any
1311	1311	property held by the local land bank authority.
1312	1312	(2) Enter (15) To enter into an intergovernmental
1313	1313	agreement with a municipality or county , or another local land
1314	1314	bank authority, providing for one or more of the following:
1315	1315	617
1316	1316	618
1317	1317	619
1318	1318	620
1319	1319	621
1320	1320	622
1321	1321	623
1322	1322	624
1323	1323	625
1324	1324	626
1325	1325	627
1326	1326	628
1327	1327	629
1328	1328	630
1329	1329	631
1330	1330	632
1331	1331	633
1332	1332	634
1333	1333	635
1334	1334	636
1335	1335	637
1336	1336	638
1337	1337	639
1338	1338	640
1339	1339	641
1340	1340	642
1341	1341	643
1342	1342	644 SB342 INTRODUCED
1343	1343	Page 24
1344	1344	bank authority, providing for one or more of the following:
1345	1345	a. The conveyance to the local land bank authority of
1346	1346	tax delinquent property held by the municipality or county for
1347	1347	title clearance, including, but not limited to, a quiet title
1348	1348	and foreclosure action under Section 24-9-8.
1349	1349	b. The acquisition and title clearance of property by
1350	1350	the local land bank authority of property to be conveyed by
1351	1351	the local land bank authority to the municipality or county or
1352	1352	another entity pursuant to the agreement between the local
1353	1353	land bank authority and the municipality or county.
1354	1354	c. The performance of operational and administrative
1355	1355	services to be provided to another local land bank authority.
1356	1356	(16) To acquire property at a sale conducted in
1357	1357	accordance with Section 40-10-18 by tendering a bid equal to
1358	1358	the minimum amount specified in the decree of sale and the
1359	1359	costs and expenses subsequently accruing, which shall be
1360	1360	accepted, and a certificate of purchase issued to the local
1361	1361	land bank authority. The tender of the minimum bid in
1362	1362	accordance with this subdivision shall be for cash, with a
1363	1363	credit for any and all components of the minimum bid already
1364	1364	due and payable to the county, municipality, and school board
1365	1365	whose taxes and liens compose part of the minimum bid. After
1366	1366	90 days from the date of sale, upon return of the certificate,
1367	1367	the judge of probate shall execute and deliver to the local
1368	1368	land bank authority a deed for each lot or parcel of property
1369	1369	that it purchased. The deed shall convey to, and vest in, the
1370	1370	grantee all right, title, interest, and estate of any and all
1371	1371	persons having an interest in the property as of the date of
1372	1372	the sale.
1373	1373	645
1374	1374	646
1375	1375	647
1376	1376	648
1377	1377	649
1378	1378	650
1379	1379	651
1380	1380	652
1381	1381	653
1382	1382	654
1383	1383	655
1384	1384	656
1385	1385	657
1386	1386	658
1387	1387	659
1388	1388	660
1389	1389	661
1390	1390	662
1391	1391	663
1392	1392	664
1393	1393	665
1394	1394	666
1395	1395	667
1396	1396	668
1397	1397	669
1398	1398	670
1399	1399	671
1400	1400	672 SB342 INTRODUCED
1401	1401	Page 25
1402	1402	the sale.
1403	1403	(17) To acquire a tax lien at an auction conducted in
1404	1404	accordance with Section 40-10-184 by tendering a cash bid at
1405	1405	an interest rate of 0.00 percent, which shall be accepted as
1406	1406	the successful bid. The bid shall be tendered for cash, with a
1407	1407	credit for any and all components of the minimum bid already
1408	1408	due and payable to the county, municipality, and school board
1409	1409	whose taxes and liens compose part of the minimum bid.
1410	1410	(18) To apply for and receive funding through grants
1411	1411	and loans from the governmental unit or units that created the
1412	1412	local land bank authority from other municipalities, from the
1413	1413	state, from the federal government, and from other public and
1414	1414	private sources.
1415	1415	(19) To receive and retain payments for services
1416	1416	rendered, for rent and leasehold payments received, for
1417	1417	consideration for disposition of real and personal property,
1418	1418	for proceeds of insurance coverage for losses incurred, for
1419	1419	income from investments, and for any other asset and activity
1420	1420	lawfully permitted to a local land bank authority under this
1421	1421	act.
1422	1422	(f)(g) A local unit of government and any agency or
1423	1423	department of such the local unit of government may do one or
1424	1424	more of the following:
1425	1425	(1) Anything necessary or convenient to aid a local
1426	1426	land bank authority in fulfilling its purposes under Act
1427	1427	2013-249.
1428	1428	(2) Lend, grant, transfer, appropriate, or contribute
1429	1429	funds to a local land bank authority in furtherance of its
1430	1430	purposes.
1431	1431	673
1432	1432	674
1433	1433	675
1434	1434	676
1435	1435	677
1436	1436	678
1437	1437	679
1438	1438	680
1439	1439	681
1440	1440	682
1441	1441	683
1442	1442	684
1443	1443	685
1444	1444	686
1445	1445	687
1446	1446	688
1447	1447	689
1448	1448	690
1449	1449	691
1450	1450	692
1451	1451	693
1452	1452	694
1453	1453	695
1454	1454	696
1455	1455	697
1456	1456	698
1457	1457	699
1458	1458	700 SB342 INTRODUCED
1459	1459	Page 26
1460	1460	purposes.
1461	1461	(3) Lend, grant, transfer, or convey funds to a local
1462	1462	land bank authority that are received from the federal
1463	1463	government or this state or from any nongovernmental entity in
1464	1464	aid of the purposes of Act 2013-249this chapter.
1465	1465	(h) A local land bank authority created by a county may
1466	1466	acquire real property only within the geographical boundaries
1467	1467	of the county and only in those portions of the county outside
1468	1468	of the geographical boundaries of the local land bank
1469	1469	authority created by a municipality located partially or
1470	1470	wholly within the county. A local land bank authority created
1471	1471	by a municipality may acquire real property in any of the
1472	1472	following locations:
1473	1473	(1) Within its own geographical boundaries.
1474	1474	(2) Outside of its own geographical boundaries so long
1475	1475	as the real property is not located within the boundaries of
1476	1476	any other local land bank authority.
1477	1477	(3) Within the geographical boundaries of another local
1478	1478	land bank authority pursuant to an intergovernmental agreement
1479	1479	between the local land bank authorities.
1480	1480	(g) In the event a county creates a local authority,
1481	1481	the local authority may acquire real property that has been
1482	1482	tax delinquent for three or more years only in those portions
1483	1483	of the county located outside of the geographical boundaries
1484	1484	of any other local authority created by any municipality
1485	1485	located partially or entirely within the county. The Land Bank
1486	1486	Authority may acquire real property that has been tax
1487	1487	delinquent for three or more years only in those portions of
1488	1488	the state located outside of the geographical boundaries of
1489	1489	701
1490	1490	702
1491	1491	703
1492	1492	704
1493	1493	705
1494	1494	706
1495	1495	707
1496	1496	708
1497	1497	709
1498	1498	710
1499	1499	711
1500	1500	712
1501	1501	713
1502	1502	714
1503	1503	715
1504	1504	716
1505	1505	717
1506	1506	718
1507	1507	719
1508	1508	720
1509	1509	721
1510	1510	722
1511	1511	723
1512	1512	724
1513	1513	725
1514	1514	726
1515	1515	727
1516	1516	728 SB342 INTRODUCED
1517	1517	Page 27
1518	1518	the state located outside of the geographical boundaries of
1519	1519	any local authority created by any municipality or county.
1520	1520	(h)(i) Any local land bank authority formed by a
1521	1521	municipality or county pursuant to this section shall continue
1522	1522	to exist in accordance with its articles of incorporation and
1523	1523	this section in the event that the number of tax delinquent
1524	1524	properties in the local jurisdiction forming the local land
1525	1525	bank authority subsequently decreases to 100 or less.
1526	1526	(i)(j) Any local land bank authority formed by a
1527	1527	municipality or county pursuant to this section shall permit
1528	1528	the Alabama Department of Examiners of Public Accounts to
1529	1529	perform an audit upon request by the department. The
1530	1530	department shall assess the cost of the audit against the
1531	1531	local land bank authority.
1532	1532	(k) As public property used for public purposes, the
1533	1533	real property of a local land bank authority, including, but
1534	1534	not limited to, real property held by a local land bank
1535	1535	authority pursuant to a long-term lease contract with
1536	1536	community land trusts and its income, are exempt from all
1537	1537	license fees, recording fees, and all other taxes imposed by
1538	1538	the state or by any of its political subdivisions, as well as
1539	1539	all stormwater fees and other municipal assessments.
1540	1540	(l) Up to 75 percent of the ad valorem taxes collected
1541	1541	on any and all real property, except any state or school
1542	1542	district ad valorem tax, conveyed by a local land bank
1543	1543	authority shall be remitted to the local land bank authority.
1544	1544	The specific percentage of the taxes to be remitted shall be
1545	1545	set forth in the local law, ordinance, resolution, or
1546	1546	intergovernmental contract of the local land bank authority.
1547	1547	729
1548	1548	730
1549	1549	731
1550	1550	732
1551	1551	733
1552	1552	734
1553	1553	735
1554	1554	736
1555	1555	737
1556	1556	738
1557	1557	739
1558	1558	740
1559	1559	741
1560	1560	742
1561	1561	743
1562	1562	744
1563	1563	745
1564	1564	746
1565	1565	747
1566	1566	748
1567	1567	749
1568	1568	750
1569	1569	751
1570	1570	752
1571	1571	753
1572	1572	754
1573	1573	755
1574	1574	756 SB342 INTRODUCED
1575	1575	Page 28
1576	1576	intergovernmental contract of the local land bank authority.
1577	1577	The allocation of ad valorem tax revenues shall commence with
1578	1578	the first taxable year following the date of conveyance and
1579	1579	shall continue for a period of five consecutive tax years. The
1580	1580	funds shall be remitted to the local land bank authority in
1581	1581	accordance with the administrative procedures established by
1582	1582	the tax commissioner or tax collecting official of the county
1583	1583	in which the local land bank authority is located. The
1584	1584	allocation of ad valorem tax revenues shall not occur if the
1585	1585	taxes have been previously pledged to secure a tax increment
1586	1586	financing debt of the authorizing governmental subdivision
1587	1587	creating the tax increment district pursuant to Chapter 99 of
1588	1588	Title 11, unless the authorizing subdivision enters into an
1589	1589	agreement with the local land bank authority for the
1590	1590	remittance of the funds to the local land bank authority."
1591	1591	"§40-1-3
1592	1592	From and after October 1 of each year, when property
1593	1593	becomes assessable the state shall have a lien upon each and
1594	1594	every piece or parcel of real property owned by any taxpayer
1595	1595	for the payment of all taxes which may be assessed against him
1596	1596	or her and upon each piece and parcel of property real or
1597	1597	personal assessed to owner unknown, which lien shall continue
1598	1598	until suchthe taxes are paid, and the county shall have a like
1599	1599	lien thereon for the payment of the taxes which may be
1600	1600	assessed by it; and, if suchthe property is within the limits
1601	1601	of a municipal corporation, suchthe municipal corporation
1602	1602	shall have a like lien thereon for the payment of the taxes
1603	1603	which may be assessed by it. These liens shall be superior to
1604	1604	all other liens and shall exist in the order named, and each
1605	1605	757
1606	1606	758
1607	1607	759
1608	1608	760
1609	1609	761
1610	1610	762
1611	1611	763
1612	1612	764
1613	1613	765
1614	1614	766
1615	1615	767
1616	1616	768
1617	1617	769
1618	1618	770
1619	1619	771
1620	1620	772
1621	1621	773
1622	1622	774
1623	1623	775
1624	1624	776
1625	1625	777
1626	1626	778
1627	1627	779
1628	1628	780
1629	1629	781
1630	1630	782
1631	1631	783
1632	1632	784 SB342 INTRODUCED
1633	1633	Page 29
1634	1634	all other liens and shall exist in the order named, and each
1635	1635	of suchthe liens may be enforced and foreclosed by sale for
1636	1636	taxes as provided in this title, or as other liens upon
1637	1637	property are enforced, except as otherwise provided by
1638	1638	lawslaw. These taxes and liens shall include any and all liens
1639	1639	transmitted to the tax collecting official by counties and
1640	1640	municipal corporations in accordance with Sections 11-40-35,
1641	1641	11-53B-16, 11-67-66, 45-37A-53, and any other state law
1642	1642	authorizing the transmittal of nuisance abatement liens for
1643	1643	weed removal and grass cutting ."
1644	1644	"§40-10-1
1645	1645	(a) The probate court of each county may order the sale
1646	1646	of lands therein for the payment of taxes assessed on the
1647	1647	lands, or against the owners of the lands, when the tax
1648	1648	collector shall report to the court that he or she or the
1649	1649	holder of a tax lien issued pursuant to Acts 1995, No. 95-408
1650	1650	was unable to collect the taxes assessed against the land, or
1651	1651	any mineral, timber or water right or special right, or
1652	1652	easement therein, or the owner thereof, without a sale of the
1653	1653	land.
1654	1654	(b) For purposes of any enforcement proceedings under
1655	1655	this chapter, the taxes due shall include any and all liens of
1656	1656	a municipality for housing and building code violations and
1657	1657	enforcement actions and nuisance abatement assessment liens
1658	1658	that are transmitted to the tax collecting official in
1659	1659	accordance with Title 11. "
1660	1660	"§40-10-18
1661	1661	(a) If no person shall bidbids for any real
1662	1662	estateproperty offered at suchthe sale an amount sufficient to
1663	1663	785
1664	1664	786
1665	1665	787
1666	1666	788
1667	1667	789
1668	1668	790
1669	1669	791
1670	1670	792
1671	1671	793
1672	1672	794
1673	1673	795
1674	1674	796
1675	1675	797
1676	1676	798
1677	1677	799
1678	1678	800
1679	1679	801
1680	1680	802
1681	1681	803
1682	1682	804
1683	1683	805
1684	1684	806
1685	1685	807
1686	1686	808
1687	1687	809
1688	1688	810
1689	1689	811
1690	1690	812 SB342 INTRODUCED
1691	1691	Page 30
1692	1692	estateproperty offered at suchthe sale an amount sufficient to
1693	1693	pay the sumgreater than the minimum bid specified in the
1694	1694	decree of sale, and the costs and expenses subsequently
1695	1695	accruing, and no minimum bid is tendered by a local government
1696	1696	or a local land bank authority, the judge of probate shall bid
1697	1697	in such real estate the real property for the state at a price
1698	1698	not exceeding the sum specified in such decree and such
1699	1699	subsequently accruing cost and expenses the minimum bid. In no
1700	1700	event shall the judge of probate bid in for the state less
1701	1701	than the entire amount of real estateproperty included in any
1702	1702	assessment.
1703	1703	(b) If no person bids for any real property offered at
1704	1704	the sale in an amount greater than the minimum bid specified
1705	1705	in the decree of sale, and the costs and expenses subsequently
1706	1706	accruing, a local government or local land bank authority in
1707	1707	which the real property is located may tender a bid for the
1708	1708	minimum amount which bid shall be accepted and a certificate
1709	1709	of purchase issued to the entity. The tender of the minimum
1710	1710	bid in accordance with this subsection shall be for cash with
1711	1711	a credit for any and all components of the minimum bid already
1712	1712	due and payable to the county, municipality, and school board
1713	1713	whose taxes and liens compose part of the minimum bid. "
1714	1714	"§40-10-29
1715	1715	(a) After the expiration of three years from the date
1716	1716	of the sale of any real estate for taxes, the judge of probate
1717	1717	then in office must execute and deliver to the purchaser,
1718	1718	other than the state, or person to whom the certificate of
1719	1719	purchase has been assigned, upon the return of the
1720	1720	certificate, proof that all ad valorem taxes have been paid,
1721	1721	813
1722	1722	814
1723	1723	815
1724	1724	816
1725	1725	817
1726	1726	818
1727	1727	819
1728	1728	820
1729	1729	821
1730	1730	822
1731	1731	823
1732	1732	824
1733	1733	825
1734	1734	826
1735	1735	827
1736	1736	828
1737	1737	829
1738	1738	830
1739	1739	831
1740	1740	832
1741	1741	833
1742	1742	834
1743	1743	835
1744	1744	836
1745	1745	837
1746	1746	838
1747	1747	839
1748	1748	840 SB342 INTRODUCED
1749	1749	Page 31
1750	1750	certificate, proof that all ad valorem taxes have been paid,
1751	1751	and payment of a fee of five dollars ($5) to the judge of
1752	1752	probate, a deed to each lot or parcel of real estateproperty
1753	1753	sold to the purchaser and remaining unredeemed, including
1754	1754	therein, if desired by the purchaser, any number of parcels,
1755	1755	or lots purchased by him or her at suchthe sale; and suchthe
1756	1756	deed shall convey to and vest in the grantee all the right,
1757	1757	title, interest, and estate of the person whose duty it was to
1758	1758	pay the taxes on suchthe real estateproperty and the lien and
1759	1759	claim of the state and county thereto, but it shall not convey
1760	1760	the right, title , or interest of any reversioner or
1761	1761	remainderman therein.
1762	1762	(b) After the expiration of one year from the sale for
1763	1763	the minimum bid to a local government or local land bank
1764	1764	authority, upon return of the certificate of purchase, the
1765	1765	judge of probate shall execute and deliver to the entity a
1766	1766	deed to the real property sold to the entity. The deed shall
1767	1767	convey to and vest in the grantee all of the right, title,
1768	1768	interest, and estate of all persons having an interest in the
1769	1769	real property as of the date of the sale. "
1770	1770	"§40-10-120
1771	1771	(a)(1) Except as otherwise provided in this subsection,
1772	1772	real property Real estate which hereafter may be sold for
1773	1773	taxes and purchased by the state may be redeemed at any time
1774	1774	before the title passes out of the state or, if purchased by
1775	1775	any other purchaser, may be redeemed at any time within three
1776	1776	years from the date of the sale by the owner, his or her
1777	1777	heirs, or personal representatives, or by any mortgagee or
1778	1778	purchaser of such lands, or any part thereof, all or part of
1779	1779	841
1780	1780	842
1781	1781	843
1782	1782	844
1783	1783	845
1784	1784	846
1785	1785	847
1786	1786	848
1787	1787	849
1788	1788	850
1789	1789	851
1790	1790	852
1791	1791	853
1792	1792	854
1793	1793	855
1794	1794	856
1795	1795	857
1796	1796	858
1797	1797	859
1798	1798	860
1799	1799	861
1800	1800	862
1801	1801	863
1802	1802	864
1803	1803	865
1804	1804	866
1805	1805	867
1806	1806	868 SB342 INTRODUCED
1807	1807	Page 32
1808	1808	purchaser of such lands, or any part thereof, all or part of
1809	1809	the real property, or by any person having an interest
1810	1810	therein, or in any part thereof in all or part of the real
1811	1811	property, legal or equitable, in severalty or as tenant in
1812	1812	common, including a judgment creditor or other creditor having
1813	1813	a lien thereon, or on any part thereof; and an infant or
1814	1814	insane person of unsound mind entitled to redeem at any time
1815	1815	before the expiration of three years from the sale may redeem
1816	1816	at any time within one year after the removal of the
1817	1817	disability; and suchthe redemption may be of any part of the
1818	1818	lands soreal property sold, which includes the whole of the
1819	1819	interest of the redemptioner. If the mortgage or other
1820	1820	instrument creating a lien under which a party seeks to redeem
1821	1821	is duly recorded at the time of the tax sale, the party shall,
1822	1822	in addition to the time herein specified, have the right to
1823	1823	redeem the real estateproperty sold, or any portion thereof
1824	1824	covered by his or her mortgage or lien, at any time within one
1825	1825	year from the date of written notice from the purchaser of his
1826	1826	or her purchase of the landsreal property at tax sale served
1827	1827	upon suchthe party, and notice served upon either the original
1828	1828	mortgagees or lienholders or their transferee of record, or
1829	1829	their heirs, personal representatives, or assigns shall be
1830	1830	sufficient notice.
1831	1831	(2) When any real property is sold for taxes and has
1832	1832	also been sold in one or more prior sales for taxes without
1833	1833	redemption from the prior tax sales, the three-year period for
1834	1834	redemption shall be measured from the date of the earliest
1835	1835	sale of the real property for taxes.
1836	1836	(3) When any real property is sold for taxes at the
1837	1837	869
1838	1838	870
1839	1839	871
1840	1840	872
1841	1841	873
1842	1842	874
1843	1843	875
1844	1844	876
1845	1845	877
1846	1846	878
1847	1847	879
1848	1848	880
1849	1849	881
1850	1850	882
1851	1851	883
1852	1852	884
1853	1853	885
1854	1854	886
1855	1855	887
1856	1856	888
1857	1857	889
1858	1858	890
1859	1859	891
1860	1860	892
1861	1861	893
1862	1862	894
1863	1863	895
1864	1864	896 SB342 INTRODUCED
1865	1865	Page 33
1866	1866	(3) When any real property is sold for taxes at the
1867	1867	minimum bid specified in the decree of sale and the real
1868	1868	property is not lawfully occupied as a residence as of the
1869	1869	date of the sale, the period for redemption shall be one year
1870	1870	from the date of the sale if one or both of the following
1871	1871	conditions apply:
1872	1872	a. The minimum bid included amounts attributable to one
1873	1873	or more housing and building code liens or nuisance abatement
1874	1874	liens.
1875	1875	b. Housing and building code liens or nuisance
1876	1876	abatement liens had been filed of record prior to the date of
1877	1877	the sale.
1878	1878	(4) When any real property is sold to a local
1879	1879	government or local land bank authority in accordance with
1880	1880	Section 40-10-18 for the minimum bid specified in the decree
1881	1881	of sale and the costs and expenses subsequently accruing, the
1882	1882	period for redemption shall be one year from the date of the
1883	1883	sale.
1884	1884	(b) If any real property has been sold for taxes and is
1885	1885	subject to redemption from the sale as set forth in subsection
1886	1886	(a) and has also been sold in one or more subsequent sales for
1887	1887	taxes, then any party entitled to redeem suchthe sale for
1888	1888	taxes may redeem suchthe sale if the redemptioner
1889	1889	simultaneously redeems his or her sale and all subsequent
1890	1890	sales. In the event of a redemption of successive sales, the
1891	1891	redemption amount shall be ascertained by applying the
1892	1892	provisions of Sections 40-10-121 and 40-10-122. Redemption
1893	1893	amounts computed pursuant to Section 40-10-121 shall be paid
1894	1894	as stated thereinin that section. Redemption amounts computed
1895	1895	897
1896	1896	898
1897	1897	899
1898	1898	900
1899	1899	901
1900	1900	902
1901	1901	903
1902	1902	904
1903	1903	905
1904	1904	906
1905	1905	907
1906	1906	908
1907	1907	909
1908	1908	910
1909	1909	911
1910	1910	912
1911	1911	913
1912	1912	914
1913	1913	915
1914	1914	916
1915	1915	917
1916	1916	918
1917	1917	919
1918	1918	920
1919	1919	921
1920	1920	922
1921	1921	923
1922	1922	924 SB342 INTRODUCED
1923	1923	Page 34
1924	1924	as stated thereinin that section. Redemption amounts computed
1925	1925	pursuant to Section 40-10-122 shall be paid as stated
1926	1926	thereinin that section if the purchaser had the right to
1927	1927	redeem pursuant to subsection (a) or was the owner of the then
1928	1928	current tax certificate or tax title. Otherwise, those funds
1929	1929	shall be disposed of as set forth in Section 40-10-28 and paid
1930	1930	to suchthe purchaser or his or her assignee only as set forth
1931	1931	in Section 40-10-28, with the time limits for suchthe
1932	1932	application computed utilizing the sale date when the
1933	1933	purchaser's interest was sold for taxes."
1934	1934	"§40-10-184
1935	1935	(a) On the day and time designated for a tax lien
1936	1936	auction, the tax collecting official shall proceed to auction
1937	1937	all tax liens described in the tax lien auction list compiled
1938	1938	as provided in Section 40-10-183, except those for which the
1939	1939	taxes, penalties, interest, fees, and costs due on the real
1940	1940	property have been paid. Any tax lien unsold after a tax lien
1941	1941	auction shall continue pursuant to Section 40-1-3 for future
1942	1942	auction or sale as provided in this article. Interest shall
1943	1943	continue to accrue on unsold tax liens at the rate imposed on
1944	1944	delinquent real property taxes.
1945	1945	(b)(1) A tax lien shall be sold at auction pursuant to
1946	1946	this article to the person who: (i) pays all taxes due,
1947	1947	including unpaid taxes for previous years, interest,
1948	1948	penalties, fees, and costs due on the real property; (ii) pays
1949	1949	an administrative fee of forty-five dollars ($45), effective
1950	1950	upon the preparation of the tax lien auction list, plus the
1951	1951	amount to be paid to the holder of a tax lien certificate who
1952	1952	has not exercised his or her first right to purchase as
1953	1953	925
1954	1954	926
1955	1955	927
1956	1956	928
1957	1957	929
1958	1958	930
1959	1959	931
1960	1960	932
1961	1961	933
1962	1962	934
1963	1963	935
1964	1964	936
1965	1965	937
1966	1966	938
1967	1967	939
1968	1968	940
1969	1969	941
1970	1970	942
1971	1971	943
1972	1972	944
1973	1973	945
1974	1974	946
1975	1975	947
1976	1976	948
1977	1977	949
1978	1978	950
1979	1979	951
1980	1980	952 SB342 INTRODUCED
1981	1981	Page 35
1982	1982	has not exercised his or her first right to purchase as
1983	1983	provided in Section 40-10-191; and (iii) bids the lowest
1984	1984	interest rate on the amount required to be paid to redeem the
1985	1985	real property from the sale.
1986	1986	(2) The beginning interest rate bid shall not exceed a
1987	1987	rate of 12 percent , and additional bids may be made at a rate
1988	1988	less than the immediately preceding bid.
1989	1989	(3) If an in-person auction ends in a tie and the
1990	1990	winner cannot be determined, the tax collecting official shall
1991	1991	draw lots to determine the winning bidder. If an online
1992	1992	auction ends in a tie and the winner cannot be determined, the
1993	1993	tie shall be resolved by a random number generator.
1994	1994	(c) The sale of a tax lien does not extinguish any deed
1995	1995	restriction, deed covenant, or easement on or appurtenant to
1996	1996	the parcel. A tax lien offered for auction or sale shall be
1997	1997	identified by a uniform parcel number and a legal
1998	1998	description."
1999	1999	"§40-10-199
2000	2000	(a) Tax liens that are not sold at the tax lien auction
2001	2001	conducted by the tax collecting official shall be separated in
2002	2002	the tax lien auction list as prescribed by Section 40-10-183
2003	2003	and the lien shall continue pursuant to Section 40-1-3.
2004	2004	TheExcept as otherwise provided in this subsection, the tax
2005	2005	collecting official, at any time after the tax lien auction
2006	2006	date, may sell at private sale an unsold tax lien for no less
2007	2007	than all taxes, interest, penalties, costs, and fees, plus the
2008	2008	amount to be paid to the holder of a tax lien certificate who
2009	2009	has not exercised his or her first right to purchase as
2010	2010	provided in Section 40-10-191. A local land bank authority may
2011	2011	953
2012	2012	954
2013	2013	955
2014	2014	956
2015	2015	957
2016	2016	958
2017	2017	959
2018	2018	960
2019	2019	961
2020	2020	962
2021	2021	963
2022	2022	964
2023	2023	965
2024	2024	966
2025	2025	967
2026	2026	968
2027	2027	969
2028	2028	970
2029	2029	971
2030	2030	972
2031	2031	973
2032	2032	974
2033	2033	975
2034	2034	976
2035	2035	977
2036	2036	978
2037	2037	979
2038	2038	980 SB342 INTRODUCED
2039	2039	Page 36
2040	2040	provided in Section 40-10-191. A local land bank authority may
2041	2041	acquire the unsold tax lien for cash with a credit for any and
2042	2042	all components of the tax lien aggregate amount due and
2043	2043	payable to the state, county, municipality, and school board.
2044	2044	The purchaser at private sale shall be entitled to interest on
2045	2045	the amount paid at a rate agreed to by the tax collecting
2046	2046	official, not to exceed 12 percent. All private tax lien sales
2047	2047	shall be entered in the record of tax lien auctions and sales,
2048	2048	as provided in Section 40-10-188.
2049	2049	(b) All tax liens that remain unsold by the tax lien
2050	2050	auction or sale shall be included in all future tax lien
2051	2051	auctions or sales until sold.
2052	2052	(c) Any tax lien that does not sell at auction shall be
2053	2053	reported to the county commission when seeking approval of
2054	2054	errors in assessments, litigationslitigation, or insolvents as
2055	2055	the tax collecting official shall be allowed credit for taxes
2056	2056	due to this state upon final settlement with the state
2057	2057	Comptroller."
2058	2058	Section 2. Sections 24-9-11 and 24-9-12 are added to
2059	2059	the Code of Alabama 1975, to read as follows:
2060	2060	§24-9-11
2061	2061	(a) A local land bank authority may convey ownership
2062	2062	of, or interest in, real property to a state or local
2063	2063	governmental entity for purposes of floodplain management or
2064	2064	stormwater drainage in the event of all of the following:
2065	2065	(1) Floodplain management or stormwater retention or
2066	2066	drainage is the highest and best use of the real property.
2067	2067	(2) As a result of housing and building code
2068	2068	restrictions, floodplain elevations, and other local, state,
2069	2069	981
2070	2070	982
2071	2071	983
2072	2072	984
2073	2073	985
2074	2074	986
2075	2075	987
2076	2076	988
2077	2077	989
2078	2078	990
2079	2079	991
2080	2080	992
2081	2081	993
2082	2082	994
2083	2083	995
2084	2084	996
2085	2085	997
2086	2086	998
2087	2087	999
2088	2088	1000
2089	2089	1001
2090	2090	1002
2091	2091	1003
2092	2092	1004
2093	2093	1005
2094	2094	1006
2095	2095	1007
2096	2096	1008 SB342 INTRODUCED
2097	2097	Page 37
2098	2098	restrictions, floodplain elevations, and other local, state,
2099	2099	or federal law or public and private agreements, conditions,
2100	2100	and limitations, the real property is no longer suitable for
2101	2101	development or redevelopment.
2102	2102	(b)(1) A local land bank authority may convey ownership
2103	2103	of, or interest in, real property under this section by grant,
2104	2104	deed, lease, or other form of conveyance, and may include
2105	2105	additional limitations, restrictions and conditions to be
2106	2106	determined by the local land bank authority.
2107	2107	(2) Consideration for the conveyance may be any of the
2108	2108	following not otherwise prohibited by law:
2109	2109	a. A nominal monetary payment.
2110	2110	b. A contractual obligation in favor of the party to
2111	2111	which the real property is being conveyed.
2112	2112	c. An exchange of real property.
2113	2113	d. Other consideration determined by the local land
2114	2114	bank authority and the party to whom the real property is to
2115	2115	be conveyed.
2116	2116	§24-9-12
2117	2117	(a) Upon declaring a state of emergency caused by a
2118	2118	natural disaster that causes widespread damage to, and
2119	2119	destruction of, real property and improvements and dislocation
2120	2120	of residents, the Governor may create a local land bank
2121	2121	authority in accordance with this section.
2122	2122	(1) The Governor may issue an executive order providing
2123	2123	for the immediate creation of a local land bank authority of a
2124	2124	local government located in whole or in part in a geographical
2125	2125	area that is subject to the declaration of the state of
2126	2126	emergency.
2127	2127	1009
2128	2128	1010
2129	2129	1011
2130	2130	1012
2131	2131	1013
2132	2132	1014
2133	2133	1015
2134	2134	1016
2135	2135	1017
2136	2136	1018
2137	2137	1019
2138	2138	1020
2139	2139	1021
2140	2140	1022
2141	2141	1023
2142	2142	1024
2143	2143	1025
2144	2144	1026
2145	2145	1027
2146	2146	1028
2147	2147	1029
2148	2148	1030
2149	2149	1031
2150	2150	1032
2151	2151	1033
2152	2152	1034
2153	2153	1035
2154	2154	1036 SB342 INTRODUCED
2155	2155	Page 38
2156	2156	emergency.
2157	2157	(2) The executive order shall provide for incorporation
2158	2158	and certification of the local land bank authority as required
2159	2159	under this chapter.
2160	2160	(b) Any local land bank authority created pursuant to
2161	2161	this section shall have all powers of a local land bank
2162	2162	authority created pursuant to Section 24-9-10.
2163	2163	(c) Upon the necessary and appropriate action of the
2164	2164	local governments having jurisdiction over the geographical
2165	2165	areas subject to the declaration of the state of emergency, a
2166	2166	local land bank authority created pursuant to this section may
2167	2167	be converted into a local land bank authority created pursuant
2168	2168	to Section 24-9-10, at which time the local land bank
2169	2169	authority shall be the successor in interest and at law to the
2170	2170	local land bank authority created pursuant to this section.
2171	2171	(d) In the event that a local land bank authority
2172	2172	created pursuant to this section is not converted pursuant to
2173	2173	subsection (c) within 12 months following the date of the
2174	2174	Governor's executive order, the local land bank authority
2175	2175	created by the executive order shall be dissolved in
2176	2176	accordance with the provisions of the Governor's executive
2177	2177	order.
2178	2178	Section 3. This act shall become effective on October
2179	2179	1, 2025.
2180	2180	1037
2181	2181	1038
2182	2182	1039
2183	2183	1040
2184	2184	1041
2185	2185	1042
2186	2186	1043
2187	2187	1044
2188	2188	1045
2189	2189	1046
2190	2190	1047
2191	2191	1048
2192	2192	1049
2193	2193	1050
2194	2194	1051
2195	2195	1052
2196	2196	1053
2197	2197	1054
2198	2198	1055
2199	2199	1056
2200	2200	1057
2201	2201	1058
2202	2202	1059