Bill > SB105

This bill creates the "Abandoned and Blighted Property Conservatorship Act" to address abandoned and blighted residential, commercial, and industrial buildings in Kentucky. The key provisions include: 1. Defining "abandoned and blighted property" based on specific criteria like lack of occupancy, code violations, and negative impacts on the community. 2. Establishing a process for cities and counties to petition the court to appoint a "conservator" (a qualified entity) to take possession of and rehabilitate an abandoned and blighted property. 3. Outlining the powers and duties of the conservator, including making repairs, securing financing, and selling the property. 4. Providing a mechanism for the sale of the property by the conservator, with the proceeds distributed according to defined priorities. 5. Allowing for termination of the conservatorship in certain circumstances, such as when the property has been rehabilitated or sold. The bill is intended to transform abandoned and blighted buildings into productive use, revitalize communities, and address public safety issues caused by these properties in Kentucky. It takes effect on January 1, 2022.