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

SF 655 establishes a legal framework for Iowa municipalities to create "land redevelopment trusts" to address blighted, abandoned, or dilapidated properties. These trusts - formed by city ordinances, county resolutions, or multi-municipal agreements - will enable communities to rehabilitate properties that lower property values, increase public safety costs, and reduce tax revenue. Key provisions include defining "blighted" properties, requiring board governance with local officials, and allowing trusts to acquire property and manage redevelopment projects. The bill directly affects cities, counties, and townships seeking to revitalize neighborhoods and attract investment through this new tool, without altering property owner rights or imposing new taxes.