Bill > LB1135

This bill modifies the Nebraska Municipal Land Bank Act by altering provisions related to the composition and residency of land bank boards of directors, expanding the powers of land banks, clarifying rules for acquiring and holding property, and changing reporting requirements. Specifically, it allows for an odd number of voting board members totaling at least seven, with expanded residency requirements for these members beyond just residing within the creating municipality, while still requiring a majority to live within the municipality. The bill also broadens the types of entities land banks can partner with for property management and development, and introduces new conditions for temporary property holding agreements with nonprofit corporations or private entities, requiring community benefits agreements for longer terms. Additionally, it adjusts the frequency and content of reports land banks must provide to municipalities and the Legislature, now requiring a report after each board meeting or at least quarterly, and including more detailed information about properties held on behalf of other entities. Finally, the bill repeals the original sections of law that are being amended.

Housing and Urban Affairs

Urban Affairs Committee (L)

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=62837