PEORIA CO LAND BANK AUTHORITY

Creates a new Division in the Counties Code. Creates the Peoria County Land Bank Authority pilot program with the purpose to use available resources to facilitate the return of vacant, abandoned, and tax-delinquent properties to productive use in order to combat community deterioration, create economic growth, and stabilizing the housing and job market. Provides that the Authority is an agency of and funded by Peoria County and that the Authority's Board of Directors are accountable to the Peoria County Board. Contains provisions relating to the appointment of members to the Authority's Board of Directors and operation of the Authority. Allows the hiring of an Executive Director and other staff. Provides that Peoria County shall defend and indemnify the Authority's Board of Directors under specified circumstances. Requires Peoria County to yearly report to the General Assembly of the Authority's effectiveness in meeting the Authority's purposes. Repeals the Division 3 years after the effective date of the amendatory Act.