Bill > HB402

This bill makes several changes to Alabama's laws regarding local land bank authorities, which are entities created by counties or municipalities to manage tax-delinquent properties. Key provisions include shortening the redemption period for properties sold at tax sales to one year in most cases, with specific exceptions for properties with code violations or those sold to local land banks, which now have a one-year redemption period. The bill also allows for the creation of multijurisdictional land banks through intergovernmental agreements between counties and municipalities, and it grants the Governor emergency authorization to create a local land bank authority via executive order in the event of a natural disaster causing widespread damage. Additionally, the bill clarifies the powers of local land banks, including their ability to convey property for floodplain management or stormwater drainage, and modifies rules around quiet title actions, which are legal proceedings to establish clear ownership of property.

Budget and Finance

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