Cities and towns; creating the Oklahoma Land Bank Act. Effective date. Emergency.

Summary

The bill lets municipalities create a land bank—a nonprofit‑type entity that can buy, hold, and transfer unimproved real property for redevelopment. Boards of 5‑11 members, including elected officials and municipal employees, would govern each land bank and may cooperate across jurisdictions or with school districts. It also sets rules for board operation, financing, tax‑foreclosure sales, and requires compliance with open‑meeting and open‑records laws.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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