MS Land Bank Act; enact.

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To: State Affairs
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative McGee

HOUSE BILL NO. 1757

AN ACT TO CREATE THE "MISSISSIPPI LAND BANK ACT" TO PROMOTE 1
RETURNING BLIGHTED OR ABANDONED PROPERTIES TO COMMERCE THROUGH THE 2
CREATION OF LAND BANKS BY LOCAL GOVERNMENTS ACTING INDIVIDUALLY OR 3
COOPERATIVELY WITH OTHER LOCAL GOVERNMENTS; TO PROVIDE THE POWERS 4
AND DUTIES OF LAND BANKS; TO AUTHORIZE LAND BANKS TO ACQUIRE, 5
DEVELOP AND DISPOSE OF PROPERTY; TO AUTHORIZE LAND BANKS TO 6
PERFORM CERTAIN RELATED FUNCTIONS SUCH AS MANAGING PROPERTY OWNED 7
BY THE LAND BANK, QUIETING AND CONFIRMING TITLE TO PROPERTY, 8
ESTABLISHING REDEVELOPMENT AND FINANCING STRUCTURES, INCLUDING 9
THOSE TO FACILITATE TAX CREDITS AND SUBSIDIARY ENTITIES, FINANCING 10
REDEVELOPMENT, ISSUING BONDS AND ACCEPTING TAX FORFEITED 11
PROPERTIES FROM THE SECRETARY OF STATE; AND FOR RELATED PURPOSES. 12
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 13
SECTION 1. Short title. This act shall be known and may be 14
cited as the "Mississippi Land Bank Act." 15
SECTION 2. Legislative findings and purpose. The 16
Legislature finds and declares the following: 17
(a) Many Mississippi communities – whether urban, 18
suburban or rural – are struggling to cope with vacant and 19
abandoned properties that are effectively out of commerce. 20
(b) Vacant and abandoned property represents lost 21
revenue to local governments after becoming forfeited to the state 22
for nonpayment of taxes. They impose real costs on a community, 23
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including costs associated with demolition, safety hazards and 24
spreading deterioration of neighborhoods that often lead to 25
mortgage foreclosures. 26
(c) Returning vacant and abandoned property to commerce 27
will strengthen the economy of the state and its local 28
governments. 29
(d) There is a public need to confront the problems 30
caused by vacant and abandoned properties through the creation of 31
new tools that enable communities throughout Mississippi to 32
redevelop problem properties. 33
(e) Land banking is one of the tools that can 34
facilitate the return of vacant and abandoned properties to 35
productive use. 36
(f) For land banks to function effectively, they need 37
the operational flexibility to acquire interests in vacant and 38
abandoned properties; to clean, demolish, and rehabilitate 39
property to improve the likelihood of properties being returned to 40
commerce; and to catalyze their redevelopment. 41
(g) It is a valid public purpose for a land bank 42
created under this act to acquire, assemble, dispose of, and quiet 43
title to property under this act. It is further declared to be a 44
valid public purpose for a land bank created under this act to 45
provide for financing the acquisition, assembly, disposition, and 46
quieting of title to property, and for a land bank to exercise 47
other powers granted to a land bank under this act. 48
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(h) The Legislature finds that a land bank created 49
under this act and powers conferred by this act constitute a 50
necessary program and serves a necessary public purpose. 51
SECTION 3. Construction, intent and scope of act. This act 52
shall be construed liberally to remediate property in a way that 53
addresses the legislative findings in Section 2 of this act. It 54
shall be construed as complete and independent authorization to 55
perform every act, function, and thing authorized by this act. 56
All powers granted herein shall be broadly interpreted to 57
effectuate the legislative purposes and not interpreted as a 58
limitation of powers granted to land banks. Except as otherwise 59
expressly set forth in this act, in the exercise of its powers and 60
duties under this act and its powers relating to property held by 61
a land bank, a land bank shall be authorized to operate as fully 62
and completely as if it were a private property owner and shall 63
not be subject to restrictions imposed by the charter, ordinances, 64
or resolutions of a local unit of government applicable to the 65
disposition or acquisition of property. 66
SECTION 4. Definitions. The following words and phrases 67
when used in this act shall have the meanings given to them in 68
this section unless the context clearly indicates otherwise: 69
(a) "Act" shall mean this Mississippi Land Bank Act. 70
(b) "Board of directors" or "board" shall mean the 71
board of directors of a land bank. 72
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(c) "Land bank" shall mean a land bank established 73
under this chapter and in accordance with the provisions of this 74
act. 75
(d) "Local government" shall mean a municipality or a 76
county. 77
(e) "Public servant" shall have the meaning ascribed in 78
Section 25-4-103(p). 79
(f) "Real property" or "property" shall mean lands 80
(whether unimproved or improved), lands under water, structures 81
and any and all easements, air rights, franchises and incorporeal 82
hereditaments and every estate and right therein, legal and 83
equitable, including terms for years and liens by way of judgment, 84
mortgage or otherwise, and any and all fixtures and improvements 85
located thereon. 86
(g) "Sponsoring government" shall mean the local 87
government or governments that create a land bank. 88
SECTION 5. Creation and existence. (1) Any local 89
government may create a land bank by the adoption of a resolution 90
specifying the following: 91
(a) The name of the land bank. 92
(b) The territorial extent of the land bank's 93
operation, if different from that of the sponsoring government's 94
jurisdiction. 95
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(c) The number of members of the board of directors, 96
which shall consist of an odd number of members, and shall be not 97
less than five (5) nor more than eleven (11) members. 98
(d) The qualifications, manner of selection or 99
appointment, and terms of office of members of the board. 100
(e) The initial individuals to serve as members of the 101
board of directors, and the length of terms for which they are to 102
serve. 103
(f) Other matters as determined by the sponsoring 104
government. 105
(2) Two (2) or more local governments may create a single 106
land bank by adopting an agreement under the Interlocal 107
Cooperation Agreement Act of 1974, Section 17-13-1, et seq., which 108
agreement shall be in accordance with the provisions of subsection 109
(1) of this section. 110
(3) A land bank established by a municipality may include 111
property outside of its municipal limits with the consent of the 112
county in which the property outside of the municipal limits is 113
located. 114
(4) Except when a land bank is created pursuant to 115
subsection (2) of this section, a land bank established by a 116
county shall operate only outside of the territorial extent of any 117
other pre-existing land bank, and may operate within the limits of 118
a municipality only with that municipality's consent. 119
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(5) Each land bank created pursuant to this act shall be a 120
public entity and a political subdivision in accordance with 121
Mississippi law, and shall have permanent and perpetual duration 122
until terminated and dissolved in accordance with the provisions 123
of Section 16 of this act. 124
SECTION 6. Board of directors. (1) Unless restricted by 125
the actions or agreements specified in Section 5 of this act, and 126
subject to the limits set forth in this section, the size of the 127
board may be adjusted in accordance with rules adopted by the 128
board or as specified in the land bank's bylaws. 129
(2) Notwithstanding any law to the contrary, any public 130
servant shall be eligible to serve as a board member and the 131
acceptance of the appointment shall neither terminate nor impair 132
such public servant's office. 133
(3) The members of the board of directors shall select from 134
among themselves a chairman and a vice chairman, as well as such 135
other officers as the board may determine. Their duties and terms 136
shall be regulated by rules adopted by the board. 137
(4) The board shall establish rules and requirements 138
relative to the attendance and participation of members in its 139
meetings. Such rules and regulations may prescribe a procedure 140
whereby, should any member fail to comply with such rules and 141
regulations, that member may be disqualified and removed from 142
office by no less than a majority vote of the remaining members of 143
the board, and that member's position shall be vacant as of the 144
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first day of the next calendar month. Any person removed under 145
this subsection shall be ineligible for reappointment to the 146
board, unless such reappointment is confirmed unanimously by the 147
board. 148
(5) A vacancy on the board shall be filled by the sponsoring 149
government. 150
(6) Board members shall serve without compensation. 151
(7) The board shall meet in regular session according to a 152
schedule adopted by the board, and also shall meet in special 153
session as convened by the chairman or upon three (3) days written 154
notice signed by a majority of the members and posted at the city 155
hall or courthouse of each local government, as applicable. The 156
presence of a majority of the board total membership, not 157
including vacancies, shall constitute a quorum to conduct 158
business. 159
(8) Actions of the board require an affirmative vote of a 160
majority of the members of that board present and voting. 161
However, no action of the board shall be authorized on the 162
following matters unless approved by a majority of the total board 163
membership: 164
(a) Adoption of bylaws and other rules and regulations 165
for conduct of the land bank's business. 166
(b) Hiring or firing of any employee or contractor of 167
the land bank. This function may, by majority vote, be delegated 168
by the board to a specified officer or committee of the land bank, 169
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under such terms and conditions, and to the extent, that the board 170
may specify. 171
(c) The incurring of debt. 172
(d) Adoption or amendment of the annual budget. 173
(e) Sale, lease, encumbrance, or alienation of 174
property, improvements or personal property with a value of more 175
than Fifty Thousand Dollars ($50,000.00). 176
(9) Vote by proxy shall not be permitted. Any member may 177
request a recorded vote on any resolution or action of the land 178
bank. 179
(10) Members of a board shall not be liable personally on 180
the bonds or other obligations of the land bank, and the rights of 181
creditors shall be solely against such land bank. 182
SECTION 7. Staff; retirement system; immunity. (1) A land 183
bank may employ such staff as it deems appropriate, which may 184
include a secretary, an executive director, its own counsel and 185
legal staff, and such technical experts, and such other agents and 186
employees, permanent or temporary, direct or under an employment 187
contract, as it may require, and may determine the qualifications 188
and fix the compensation and benefits of such persons. A land 189
bank may also enter into contracts and agreements with local 190
governments for staffing services to be provided to the land bank 191
by local governments, or for a land bank to provide such staffing 192
services to local governments. 193
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(2) Employees of a land bank may participate in the Public 194
Employees Retirement System on the same basis as employees of 195
counties or municipalities. 196
(3) Employees and members of the board of a land bank shall 197
enjoy the protections afforded to "employees" under Section 198
11-46-1, et seq., commonly referred to as the Mississippi Tort 199
Claims Act. 200
SECTION 8. Powers. A land bank shall possess all powers 201
necessary or appropriate to carry out and effectuate the purposes 202
and provisions of this act, including the following powers in 203
addition to those herein otherwise granted: 204
(a) To adopt, amend and repeal bylaws for the 205
regulation of its affairs and the conduct of its business. 206
(b) To organize and reorganize the executive, 207
administrative, clerical, and other operations of the land bank 208
and to fix the duties, powers and compensation of all employees, 209
agents and consultants. 210
(c) To sue and be sued in its own name and plead and be 211
impleaded in all civil actions, including, but not limited to, 212
actions to clear title to property of the land bank. 213
(d) To borrow from private lenders, from the sponsoring 214
government, from the state, or from federal government funds, as 215
may be necessary, for the operation and work of the land bank. 216
(e) To issue negotiable revenue bonds and notes 217
according to the provisions of this act. 218
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(f) To procure insurance or guarantees from the federal 219
government of the payments of any debts or parts thereof incurred 220
by the land bank, and to pay premiums in connection therewith. 221
(g) To enter into contracts and other instruments 222
necessary, incidental or convenient to the performance of its 223
duties and the exercise of its powers, including, but not limited 224
to, intergovernmental agreements under the Interlocal Cooperation 225
Act of 1974, Section 17-13-1, et seq., for the joint exercise of 226
powers under this act. 227
(h) To enter into contracts, leases, and other 228
instruments necessary, incidental or convenient to the performance 229
of functions by the land bank on behalf of local governments, or 230
the performance by local governments of functions on behalf of the 231
land bank for a term not to exceed forty (40) years. 232
(i) To procure insurance against losses in connection 233
with the property, assets or activities of the land bank. 234
(j) To invest money of the land bank in instruments, 235
obligations, securities, or property determined proper by the 236
board, and name and use depositories for its money. 237
(k) To enter into contracts for the management of, the 238
collection of rent from or the sale of property of the land bank 239
for any length of time without regard to term of office. 240
(l) To design, develop, construct, demolish, 241
reconstruct, rehabilitate, renovate, relocate, and otherwise 242
improve property or rights or interests in property. 243
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(m) To fix, charge and collect rents, fees and charges 244
for the use of property of the land bank and for services provided 245
by the land bank. 246
(n) To grant or acquire a license, easement, lease (as 247
lessor and as lessee), or option with respect to property for any 248
length of time without regard to term of office. 249
(o) To enter into partnerships, joint ventures and 250
other collaborative relationships with other public and private 251
entities for the ownership, management, development, and 252
disposition of property. 253
(p) To take advantage of tax credits available to 254
redevelop efforts, including, but not limited to, historic tax 255
credits, new markets tax credits, and low income housing tax 256
credits, and to enter into such financing structures as necessary, 257
with public or private entities or persons, as may be beneficial 258
to fund the redevelopment of any land bank property. 259
(q) To form, or participate in the formation of, 260
subsidiary entities or special purpose entities, in whole or part 261
to facilitate the redevelopment of land bank property, provided 262
that any such subsidiary entity shall comply with the ethics, 263
public meetings, and public records obligations set out in Section 264
13 of this act in the same manner as the land bank itself. 265
(r) To apply for and secure approvals customarily 266
incident to the management and development of property, including 267
zoning, building permits, and subdivision processes. 268
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(s) To undertake title curative measures for property 269
owned or planned for acquisition by the land bank. 270
(t) To do all other things necessary or convenient to 271
achieve the objectives and purposes of the land bank or other laws 272
that relate to the purposes and responsibility of the land bank. 273
(u) The property of a land bank and its income and 274
operations shall be exempt from all taxation by the state and by 275
any of its political subdivisions. 276
(v) A land bank may not exercise the power of eminent 277
domain. 278
SECTION 9. Acquisition of property. (1) The land bank may 279
acquire, and the Secretary of State may transfer property on the 280
register of tax lands pursuant to Section 29-1-21. 281
(2) The land bank may accept transfers of property from a 282
sponsoring government upon such terms and conditions as agreed to 283
by the land bank and the sponsoring government. Notwithstanding 284
any other law to the contrary, any sponsoring government may 285
transfer to the land bank property and interests in property of 286
the sponsoring government on such terms and conditions and 287
according to such procedures as determined by the sponsoring 288
government. 289
(3) The land bank shall maintain its property in accordance 290
with the laws and ordinances of the jurisdiction in which the 291
property is located. 292
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(4) The land bank shall not own or hold property located 293
outside the jurisdictional boundaries of the sponsoring 294
government, except as provided by Section 5 or 8 of this act. 295
SECTION 10. Disposition of property. (1) The land bank 296
shall hold all property acquired by the land bank in its own name, 297
irrespective of the identity of the transferor of such property. 298
(2) The land bank shall maintain and make available for 299
public review and inspection an inventory of property held by the 300
land bank. 301
(3) The land bank shall determine and set forth in policies 302
and procedures the general terms and conditions for consideration 303
to be received by the land bank for the transfer of property and 304
interests in property for fair value, which consideration may take 305
the form of monetary payments and secured financial obligations, 306
covenants and conditions related to the present and future use of 307
the property, contractual commitments of the transferee, or such 308
other forms of consideration as determined by the board to be in 309
the best interest of the land bank and citizens of the local 310
government. 311
(4) The land bank may convey, exchange, sell, transfer, 312
lease as lessee, grant, release and demise, pledge and hypothecate 313
any and all interests in, upon or to property of the land bank. 314
(5) A sponsoring government may, in its resolution creating 315
a land bank, or in the case of multiple sponsoring governments, in 316
the applicable intergovernmental cooperation agreement, establish 317
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a hierarchical ranking of priorities for the use of property 318
conveyed by a land bank including, but not limited to, (a) use for 319
purely public spaces and places, (b) use for affordable housing, 320
(c) use for market rate housing, (d) use for retail, commercial 321
and industrial activities, (e) mixed use, (f) use as conservation 322
areas, and such other uses and in such hierarchical order as 323
determined by the land bank. 324
(6) A sponsoring government may, in its resolution creating 325
a land bank, or in the case of multiple sponsoring governments, in 326
the applicable intergovernmental cooperation agreement, require 327
that any particular form of disposition of property, or any 328
disposition of property located within specified jurisdictions, be 329
subject to specified voting and approval requirements of the 330
board. Except and unless restricted or constrained in this 331
manner, the board may delegate to officers and employees the 332
authority to enter into and execute agreements, instruments of 333
conveyance and all other related documents pertaining to the 334
conveyance of property by the land bank. 335
SECTION 11. Financing of land bank operations. (1) A land 336
bank may receive funding through appropriations, grants, and loans 337
from its sponsoring government, from other local governments, from 338
the state, from the federal government, or from other public and 339
private sources. 340
(2) A land bank may receive and retain payments for services 341
rendered, for rents and leasehold payments received, for 342
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consideration for disposition of real and personal property, for 343
proceeds of insurance coverage for losses incurred, for income 344
from investments, and for any other asset and activity lawfully 345
permitted to a land bank under this act. 346
(3) Ad valorem taxes collected on property conveyed by a 347
land bank shall be remitted to the land bank commencing with the 348
first taxable year following the date of conveyance from the land 349
bank and shall continue through the fifth year thereafter. 350
SECTION 12. Borrowing and issuance of bonds. (1) A land 351
bank shall have the power to issue bonds for any of its purposes, 352
the principal and interest of which are payable from its revenues. 353
Any of such bonds may be secured by a pledge of any revenues, 354
including grants or contributions from its sponsoring government, 355
state, the federal government, or by mortgaging any property of 356
the land bank. 357
(2) Bonds issued by a land bank are hereby declared to have 358
all the qualities of negotiable instruments under the law merchant 359
and the negotiable instruments law of Mississippi. 360
(3) Bonds of a land bank created under the provisions of 361
this act and the income therefrom shall at all times be free from 362
taxation for the state or local purposes under any provision of 363
state law. 364
(4) Bonds of a land bank shall be authorized and issued 365
using the same procedures set out in Section 43-35-21(c) through 366
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(f), and shall be legal investments as described in Section 367
43-35-23. 368
(5) Bonds issued by the land bank shall be issued, sold and 369
delivered in accordance with the terms and provisions of a 370
resolution adopted by the board. The board may sell such bonds in 371
such manner, either at public or at private sale, and for such 372
price as it may determine to be in the best interest of the land 373
bank. 374
(6) Neither the members of a land bank nor any person 375
executing the bonds shall be liable personally on any such bonds 376
by reason of the issuance thereof. Such bonds or other 377
obligations of a land bank shall not be a debt of its sponsoring 378
government or of the State of Mississippi, and shall so state on 379
their face, nor shall any sponsoring government or the State of 380
Mississippi, nor any revenues or any property of any sponsoring 381
government or the State of Mississippi be liable therefor. 382
(7) Notwithstanding subsection (6) of this section, a 383
sponsoring government may elect to guarantee, ensure or otherwise 384
become primarily or secondarily obligated on the indebtedness of a 385
land bank created by it, subject however to Mississippi law 386
applicable to indebtedness. 387
SECTION 13. Ethics, public meetings, public records, 388
reporting, and audits. (1) Title 25, Chapter 4 of the 389
Mississippi Code of 1972, Ethics is Government, shall apply to 390
land banks. For that purpose, a land bank shall be deemed to be a 391
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"governmental entity", and its board members and employees shall 392
be deemed to be "public servants". In furtherance of the 393
foregoing, but without limiting its effect, members of the board 394
and employees of a land bank are prohibited from: 395
(a) Conveying to the land bank any interest, direct or 396
indirect, in property; 397
(b) Acquiring any interest, direct or indirect, in 398
property of the land bank, in any property to be acquired by the 399
land bank, or in any property to be acquired from the land bank; 400
(c) Having any interest, direct or indirect, in any 401
contract or proposed contract for materials or services to be 402
furnished or used by a land bank; 403
(d) Having any interest, direct or indirect, in the 404
development of property owned by or conveyed from the land bank; 405
or 406
(e) Serving in a consulting or advisory capacity with 407
any person who intends to or actually participates in the 408
redevelopment of property owned by the land bank. 409
(2) The board may adopt supplemental rules and regulations 410
addressing potential conflicts of interest and ethical guidelines 411
for members of the board and land bank employees. 412
(3) Title 25, Chapter 41 of the Mississippi Code of 1972, 413
Open Meetings, shall apply to land banks. For that purpose, a 414
land bank shall be deemed to be a "public body". 415
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(4) Title 25, Chapter 61 of the Mississippi Code of 1972, 416
Mississippi Public Records Act of 1983, shall apply to land banks. 417
For that purpose, a land bank shall be deemed to be a "public 418
body". 419
(5) Annually prior to December 31, the board shall submit a 420
report to the sponsoring government and the Mississippi Secretary 421
of State that lists an inventory of the land bank's real property 422
and the real property acquired and disposed of for that year. 423
(6) A land bank shall be subject to audit by its sponsoring 424
government and the Mississippi State Auditor. 425
SECTION 14. Land bank creation following a natural disaster. 426
In the event of a natural disaster which causes widespread 427
damage to and destruction of property and improvements and 428
dislocation of residents, and, following issuance of a declaration 429
of emergency, the Governor shall have the authority to create a 430
land bank in accordance with the following: 431
(a) The Governor shall have the authority, following 432
consultation with the elected governing officials of the 433
geographic area subject to the Governor's declaration of 434
emergency, to issue an executive order providing for the immediate 435
creation of a land bank of and for such local governments. 436
(b) The executive order shall provide for the matters 437
identified in Section 5 of this act. 438
(c) The land bank created pursuant to this section 439
shall have all powers of a land bank created pursuant to this act. 440
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(d) Any land bank created pursuant to this section may 441
be converted into one (1) or more land banks pursuant to Section 5 442
of this act by necessary and appropriate action of the sponsoring 443
government within the geographic areas subject to the declaration 444
of emergency, at which time such Section 5 land bank shall be the 445
successor in interest and at law to the land bank created pursuant 446
to this section and the real property within the new land bank's 447
jurisdiction. 448
(e) In the event that an applicable Section 5 land bank 449
is not created in accordance with paragraph (d) of this section, 450
at the end of twelve (12) months following the date of the 451
Governor's executive order the land bank created in accordance 452
with this section shall be dissolved in accordance with Section 16 453
of this act. 454
SECTION 15. Proceedings to quiet and confirm title. (1) 455
With respect to any property in which a land bank holds an 456
interest or any property in which a land bank contemplates 457
acquiring an interest, a land bank may avail itself of proceedings 458
to quiet and confirm title under Section 11-17-1, et seq. A land 459
bank may combine multiple parcels of property in a single 460
complaint to quiet and confirm title when the multiple parcels 461
share a logical nexus, such as physical proximity, common 462
interests in chains of title, acquisition in related proceedings, 463
or inclusion in a common redevelopment plan. 464
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(2) A land bank may, in a single complaint to quiet and 465
confirm title, avail itself of a proceeding under Section 11-17-1 466
regarding tax title lands, Section 11-17-19 regarding interests 467
granted by political subdivisions, and Section 11-17-29 regarding 468
any other title. 469
(3) After entry of a judgment quieting and confirming title, 470
the owner of any extinguished recorded or unrecorded interest in 471
that property who contests the quiet and confirm title action, but 472
who was not a party to the original proceeding, may not bring an 473
action for possession of the property against any subsequent 474
owner, but may only bring an action to recover monetary damages as 475
provided in this subsection against the land bank. The chancery 476
court has original and exclusive jurisdiction in any action to 477
recover monetary damages under this subsection. An action to 478
recover monetary damages under this subsection shall be subject to 479
a statute of repose of three (3) years after a judgment to quiet 480
and confirm title is entered. Any monetary damages recoverable 481
under this subsection shall be determined as of the date a 482
judgment is entered, and shall not exceed the lesser of: 483
(a) The fair market value of the interest in the 484
property held by the person bringing the action under this section 485
on that date, less the sum of (i) any ad valorem taxes, interest, 486
penalties, and fees owed on the property as of that date; and (ii) 487
ad valorem taxes, interest, penalties, and fees that would have 488
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accrued on the property had it not been acquired by the land bank; 489
or 490
(b) The net monetary proceeds received by the land bank 491
in consideration of the transfer of the property to the subsequent 492
owner. 493
(4) The right to sue for monetary damages under this 494
subsection shall not be transferable except by testate or 495
intestate succession. 496
SECTION 16. Dissolution of land bank. (1) A land bank may 497
be dissolved sixty (60) calendar days after an affirmative 498
resolution is approved by two-thirds (2/3) of the membership of 499
the board of directors. Sixty (60) calendar days advance written 500
notice of consideration of a resolution of dissolution shall be 501
given to the sponsoring government, shall be published in a local 502
newspaper of general circulation, and shall be sent certified mail 503
to the trustee of any outstanding bonds of the land bank. Upon 504
dissolution of the land bank, all real property, personal property 505
and other assets of the land bank shall become the assets of the 506
applicable sponsoring government, in whose jurisdiction the assets 507
are located. 508
(2) In the event that two (2) or more sponsoring governments 509
create a land bank in accordance with Section 5 of this act, the 510
withdrawal of one (1) or more sponsoring governments shall not 511
result in the dissolution of the land bank unless the 512
intergovernmental agreement so provides and there is no sponsoring 513
H. B. No. 1757 *HR26/R1647* ~ OFFICIAL ~
26/HR26/R1647
PAGE 22 (OM\KW)
ST: MS Land Bank Act; enact.
government that desires to continue the existence of the land 514
bank. 515
(3) In the event a land bank created under the emergency 516
provisions of Section 14 reaches its 12-month expiration under 517
Section 14(e), the property of the land bank shall become the 518
property of the municipality in which the property is located, or 519
of the county in which the property is located if the property 520
lies outside of the municipal limits. 521
SECTION 17. Relationship to other statutes. If any 522
provisions of this act conflict with other sections of state law, 523
including laws regarding the acquisition and disposition of 524
property, the provisions of this act shall prevail. 525
SECTION 18. This act shall take effect and be in force from 526
and after July 1, 2026. 527