Bill > SB204

This bill modifies existing Alabama law concerning local land bank authorities, which are entities created by counties or municipalities to manage tax-delinquent properties. Key changes include shortening the redemption period for properties sold at tax sales to one year in most cases, especially for properties acquired by local land banks or governments at a minimum bid, and allowing for the creation of multi-jurisdictional land banks through intergovernmental agreements between counties and municipalities. The bill also grants the Governor emergency authorization to create a local land bank authority by executive order in areas affected by a natural disaster, which can later be converted into a standard land bank authority. Additionally, it clarifies the powers of local land bank authorities, including their ability to convey property for floodplain management or stormwater drainage, and expands the types of properties they can acquire, such as those with housing code violations or nuisance liens. The bill also makes changes to the process for quiet title actions, which are legal proceedings to establish clear ownership of property, by streamlining the steps and setting stricter timelines for court hearings.