Bill > HB727

This bill, known as the "Land Bank Act," authorizes counties and municipalities in Mississippi to create land bank authorities to convert vacant, abandoned, or state-owned properties into productive use, thereby strengthening local economies and promoting growth. These authorities, which can be established by individual counties or municipalities or jointly, are empowered to acquire, manage, and dispose of property, including those with unclear titles, and can even borrow money and issue bonds to finance their operations. The act outlines the powers and duties of these authorities, such as entering into contracts, accepting gifts and grants, and procuring insurance, while also specifying limitations, such as prohibiting involvement with casino development and the use of eminent domain. A key provision is an expedited process for confirming and quieting title to properties acquired by the authorities, which involves specific notice requirements to potential claimants and a streamlined court procedure to establish clear ownership. The property and income of these land bank authorities are exempt from state and local taxes, and their bonds and notes are also tax-exempt. The act aims to provide a comprehensive framework for revitalizing underutilized properties for the public good.

Government Affairs

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB0727.xml