Establishing land banking authorities.

Summary

The bill lets cities, counties, or groups of counties set up land‑banking authorities that can buy, hold, improve, lease, or transfer property for affordable‑housing projects. It requires these authorities to prioritize equity, prevent displacement, and attach long‑term affordability covenants to at least half of the land they sell or lease. The authorities must also issue annual public reports on their activities.

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

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