Bill > SB1556

This bill modifies provisions related to land banks, which are agencies established by counties or municipalities to manage, sell, and transfer interests in real estate, aiming to return tax-delinquent properties to productive use. Key changes include clarifying the establishment and governance of land bank agencies, particularly for counties with over one million inhabitants and municipalities with over 1,500 inhabitants, and specifying that land banks cannot own property outside their establishing jurisdiction. The bill also adjusts procedures for tax sales, including redemption periods and the eligibility of bidders, and outlines powers for land banks such as borrowing funds, entering contracts, and investing money. It further details requirements for property maintenance, sale terms, and the distribution of proceeds from property sales, emphasizing the return of property to the tax rolls. Additionally, the bill modifies rules regarding conflicts of interest for land bank board members and employees, allows land banks to file actions to quiet title on properties they own, and establishes procedures for the dissolution of land bank agencies. It also makes changes to the definitions and application of land tax collection laws, particularly for "partial opt-in counties" where a county may choose to apply these provisions to specific parcels, and clarifies the priority of liens for various taxes and sewer charges.

Government Affairs

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=872601