| Last Action | to State & Local Government (S) |
|---|---|
| Title | AN ACT relating to land bank authorities. |
| Bill Documents |
Bill
|
| Impact Statements | Local Mandate |
| Bill Request Number | 1408 |
| Sponsors | M. McGarvey, J. Adams, D. Harper Angel |
| Summary of Original Version | Amend KRS 65.350 to define "certificate of delinquency," "fee office," "local government lien," "taxing jurisdiction" and "third-party purchaser”; amend KRS 65.355 to expand the authority of land bank authorities; amend KRS 65.360 to clarify membership of a land bank authority; amend KRS 65.365 to update mailing list requirements; amend KRS 65.370 to update notice provisions; amend KRS 65.375 to require a motion from the landbank authority to obtain property upon sale with no satisfactory bid; require that the property be vacant or abandoned for the motion to be made; provide that all government taxes and liens shall be extinguished upon transfer to the land bank, to require the land bank to pay face value to any third-party purchaser that holds a certificate of delinquency on the property; allow the land bank to keep proceeds from the sale of property; provide that the land bank shall receive a portion of property tax collected on property sold by the authority for five years following the sale; amend KRS 99.715 to allow cities to transfer property to a land bank authority. |
| Index Headings of Original Version |
Property - Land bank authorities, expansion and modification of powers and duties Taxation - Land bank authorities, expansion and modification of powers and duties Taxation, Property - Land bank authorities, expansion and modification of powers and duties Urban Renewal - Land bank authorities, expansion and modification of powers and duties Local Mandate - Land bank authorities, expansion and modification of powers and duties Counties - Land bank authorities, expansion and modification of powers and duties |
| 02/24/16 |
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|---|---|
| 02/26/16 |
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Last updated: 1/16/2019 3:08 PM (EST)