A794

Modifies procedures for determining and paying fair market value for abandoned, vacant, or tax-delinquent properties in distressed municipalities.

This bill modifies procedures for determining and paying fair market value for real property that is abandoned, vacant, or subject to unpaid taxes in distressed municipalities. It allows municipalities to purchase such properties for fair market value or acquire them through eminent domain. The bill defines "abandoned" or "vacant" properties based on specific conditions, such as overgrown vegetation or disconnected utility services. It also allows municipalities to subtract unpaid taxes and municipal liens from the compensation amount.