Land Bank Bill Passes House Committee
January 16, 2018
HB 54, sponsored by Representative Ron Johnson (R-Sylacauga), unanimously passed the House State Government Committee with a favorable report last week.
HB 54 creates the Alabama Land Bank Authority board. The board’s formation will allow the Authority to acquire tax delinquent, non-revenue generating properties in order to promote commercial and economic development, and assemble parcels of real property for re-development and return to the tax rolls of the State. To date, the Authority’s governing board has not been formed, and, as a result, the Authority is unable to fulfill its intended purpose.
HB 54 will also provide for the Commissioner of the Department of Revenue to convene the organizational meeting of the Authority’s board no later than October 1, 2018. The bill will authorize the Authority to acquire from the State its interest in real property that was sold as a result of any type of delinquent taxes and held for at least 5 years. The bill will also require the Authority to provide notice of its intent to dispose of property.
Alabama REALTORS® supports HB 54 and promotes the highest and best use of land in Alabama.