Bill > HB717

This bill modifies provisions governing land banks in Missouri by making several key changes. The bill revises restrictions on who can purchase properties at tax sales, removing previous prohibitions on land bank agency members, employees, and officials bidding on properties. It expands the ability of land banks to acquire properties by eliminating the previous requirement that purchased properties must be adjacent to existing land bank-owned properties. The bill clarifies that land bank agencies can only own property within the boundaries of the county or municipality that established them and must maintain an online public inventory of their properties, including details such as availability, acquisition method, and sale history. Land banks are given more flexibility in how they can acquire, manage, and dispose of properties, with the ability to receive funding through grants, gifts, and other sources. The bill also establishes a detailed process for distributing proceeds from property sales, prioritizing sale expenses, agency operations, and then returning excess funds to taxing authorities. Additionally, the legislation provides mechanisms for land banks to receive a portion of collected land taxes for properties they have sold in the previous three years, further supporting their operational funding.

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https://house.mo.gov/Bill.aspx?bill=HB717&year=2025&code=R