Bill > HB4065

This bill creates an urban land bank program for municipalities with a population of two million or more. Key provisions of the bill include: - Establishing the purpose, powers, and operation of the land bank, including the ability to acquire, manage, and dispose of vacant, abandoned, or non-revenue generating properties for productive uses like affordable housing, economic development, and flood control. - Authorizing the land bank to submit bids at tax foreclosure sales and acquire properties through that process. - Allowing the land bank to enter into interlocal agreements with non-qualifying municipalities to conduct land bank activities in those areas. - Providing for the dissolution of the land bank and the transfer of its assets and obligations to the creating municipality. - Authorizing the land bank to receive various forms of funding and allocating a portion of property tax revenue from transferred properties to the land bank for a period of time. The bill also creates a joint interim committee to study land banks in Texas and provide legislative recommendations.