Alabama SB204 would revise local land bank authority operations, including shortening the tax sale redemption period, allowing local governments to.

Alabama SB204 would revise the operations of local land bank authorities in the state. It would shorten the redemption period for certain tax-delinquent properties from three years to one year. It would allow local governments or local land bank authorities to bid for property at public auctions with a minimum bid and obtain deeds after one year. It would also authorize the creation of multijurisdictional land banks through intergovernmental agreements between counties and municipalities.

Alabama SB204 would revise local land bank authority operations, including shortening the tax sale redemption period, allowing local governments to.

Alabama SB204 would revise the operations of local land bank authorities in the state. It would shorten the redemption period for certain tax-delinquent properties from three years to one year. It would allow local governments or local land bank authorities to bid for property at public auctions with a minimum bid and obtain deeds after one year. It would also authorize the creation of multijurisdictional land banks through intergovernmental agreements between counties and municipalities.