Bill > SB1918

This bill allows certain municipalities with a population of two million or more to create an urban land bank to acquire, manage, and dispose of vacant, abandoned, and deteriorated properties. The land bank would have various powers, including the ability to issue bonds, acquire foreclosed properties, and convey properties for affordable housing, flood control, and other public purposes. The bill also provides tax incentives to help fund the land bank's operations. Overall, the bill aims to help these large municipalities address blight, promote affordable housing, and improve community development through the creation of an urban land bank.