Establishes land redevelopment trusts to revitalize blighted properties.

The bill creates land redevelopment trusts to address dilapidated, abandoned, and tax-delinquent properties. It allows municipalities to form these trusts to acquire, rehabilitate, and manage properties. The bill outlines procedures for property acquisition, including tax sales, and sets rules for the trusts' governance, finances, and dissolution. It also establishes the trusts as public agencies subject to state audits and public records requirements.

Establishes land redevelopment trusts to revitalize blighted properties.

The bill creates land redevelopment trusts to address dilapidated, abandoned, and tax-delinquent properties. It allows municipalities to form these trusts to acquire, rehabilitate, and manage properties. The bill outlines procedures for property acquisition, including tax sales, and sets rules for the trusts' governance, finances, and dissolution. It also establishes the trusts as public agencies subject to state audits and public records requirements.