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 bill shortens the redemption period for tax‑delinquent property and allows local land bank authorities to purchase such land at auction with a minimum bid and receive deeds after one year. It also broadens where banks can acquire land, creates multijurisdictional banks, gives those banks tax‑exempt status, and authorizes the governor to create a bank by executive order during a state of emergency. The changes affect counties, cities, property owners, and the Alabama Land Bank Authority.

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