Establishing land banking authorities.

Summary

The bill lets public corporations, public housing authorities, and qualified nonprofits operate as land banks that can buy, hold, improve, and transfer land for affordable‑housing projects. It requires these banks to follow local housing plans, prioritize equity, and keep at least half of transferred parcels affordable for 30 years. Annual public reports are mandated to track progress and ensure transparency.

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

Topics

Share