Engrossed Senate Bill (H)

DIGEST

Land banks. Allows a county fiscal body to adopt an ordinance authorizing a deduction for property transferred from a land bank. Allows a county fiscal body to adopt an ordinance authorizing the allocation of property tax revenue collected with respect to transferred properties to the transferring entities. Authorizes a third class city to which the unsafe building law applies to establish a land bank to manage and improve the marketability of distressed real property in the city. Establishes memberships on the land bank board of a third class city. Land banks. Allows a county fiscal body to adopt an ordinance authorizing a deduction for property transferred from a land bank. Allows a county fiscal body to adopt an ordinance authorizing the allocation of property tax revenue collected with respect to transferred properties to the transferring entities. Authorizes a third class city to which the unsafe building law applies to establish a land bank to manage and improve the marketability of distressed real property in the city. Establishes memberships on the land bank board of a third class city.