Bill > HB3732

This bill creates an Urban Land Bank Program for municipalities with a population of two million or more. The key provisions are: - Allows municipalities to create a land bank to acquire, manage, and dispose of vacant, abandoned, and deteriorated properties and return them to productive uses, such as affordable housing, workforce housing, public service housing, community-based economic development, and flood control and storm water management. - Grants the land bank various powers, including the ability to issue bonds, enter into contracts, and acquire and dispose of property. - Establishes a board of directors to govern the land bank, with rules for board composition, meetings, and actions. - Authorizes the land bank to participate in tax foreclosure proceedings and acquire properties through tax sales. - Allows the land bank to enter into interlocal agreements with non-qualifying municipalities to conduct land bank activities within their boundaries. - Provides for the financing of the land bank's operations, including through the collection of a supplemental tax penalty and the allocation of a portion of property taxes on land bank-owned properties. The bill also repeals the previous Chapter 379D on land banks and provides for the continuation of the existing Houston Land Bank under the new Chapter 379F.