TO: | Honorable Kevin Bailey, Chair, House Committee on Urban Affairs |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB2175 by Deshotel (Relating to the operation of urban land bank demonstration programs by certain municipalities.), As Introduced |
Under the statute, the governing body of a municipality may adopt an urban land bank demonstration program in which the officer charged with selling real property ordered sold pursuant to foreclosure of a tax lien may sell certain eligible real property by private sale for purposes of affordable housing development as provided by Chapter 379C. The governing body of a municipality that adopts an urban land bank demonstration program is required to establish or approve a land bank for the purpose of acquiring, holding, and transferring unimproved real property under this chapter.
The fiscal impact would vary by municipality, depending on whether the municipality chooses to establish an urban land bank demonstration program and the amount of property involved. It is anticipated that the fiscal implications would not be significant.
Source Agencies: |
LBB Staff: | JOB, DB
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