A bill for an act relating to the creation of land redevelopment trusts.

HF 28, known as the "Iowa Land Redevelopment Trust Act," establishes a framework for municipalities to create land redevelopment trusts. These trusts are public entities designed to acquire and manage dilapidated, abandoned, blighted, and tax-delinquent properties within their jurisdiction. The goal is to return these properties to productive use, which could include revitalizing areas, providing affordable housing, or attracting new industry. Municipalities, either individually or jointly, can create these trusts, which would be governed by a board of directors.