Short title; applicability

Legislative findings and declarations. Definitions. Creation; existence; board membership. Size of board; membership; governance. Employment of executive director, legal counsel, technical experts, agents, and employees; contracts and agreements with localities for staffing services. Powers; limitation or withdrawal of power by land bank member under certain circumstances. 48-4-110. 48-4-111. 48-4-112. T.48, C.4 No eminent domain power. Exemption of land bank property from state and local taxation; acquisition of real property interests; geographical restriction. Acquired property in land bank name; public review and inspection of inventory; property transaction requirements; hierarchy of uses. Funding through grants and loans; receipt of payments for various activities; remission of real property tax; allocation of proceeds from sale of property. Public meetings; conflicts of interest; dissolution. Extinguishment of prior encumbrances, liens, and claims for real property taxes owed; remission to tax collector; tax collector authorized to assign, transfer, or sell to land bank certain ad valorem tax executions; content of notice of transfer; nonjudicial tax sale.