Local land bank authorities; shorten tax sale redemption period; restrictions on geographic scope; creation of multijurisdictional land banks by agreement; Governor's emergency authorization to create land bank

Summary

The measure shortens the redemption period for tax‑delinquent properties and lets local land banks purchase such land at public auction with a minimum bid, receiving deeds after one year. It also limits where banks can acquire land, permits counties and cities to combine into multijurisdictional banks, exempts bank‑owned property from taxes, and authorizes the governor to create a bank by executive order during a state emergency.

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