Mississippi Land Bank Act; local government transfer vacant and abandoned property to.

SB 2677, the Mississippi Land Bank Act, would allow cities and counties to create land banks to acquire and redevelop vacant and abandoned properties forfeited to the state for nonpayment of taxes. Land banks could clean, demolish, or rehabilitate these properties, then sell or lease them for productive use like housing or business, using tools such as bonds and tax credits. The bill grants land banks broad authority to manage property without being restricted by typical local government rules on transactions. This aims to reduce blight, generate revenue for communities, and return underused properties to economic activity.