Establishes land redevelopment trusts to revitalize blighted properties in Iowa.

The bill creates land redevelopment trusts, public agencies formed by municipalities to acquire, rehabilitate, and sell or lease dilapidated, abandoned, or blighted properties. These trusts can bid exclusively on tax sale certificates for such properties, removing them from regular tax sales. The bill outlines procedures for creating these trusts, their governance, and their powers, including acquiring properties through various means and disposing of them. It also details financing options, conflict of interest rules for board members and employees, and reporting requirements.

Establishes land redevelopment trusts to revitalize blighted properties in Iowa.

The bill creates land redevelopment trusts, public agencies formed by municipalities to acquire, rehabilitate, and sell or lease dilapidated, abandoned, or blighted properties. These trusts can bid exclusively on tax sale certificates for such properties, removing them from regular tax sales. The bill outlines procedures for creating these trusts, their governance, and their powers, including acquiring properties through various means and disposing of them. It also details financing options, conflict of interest rules for board members and employees, and reporting requirements.