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

SB 2679, the Mississippi Land Bank Act, allows cities and counties to create land banks that acquire, clean, and redevelop vacant or abandoned properties. These land banks can purchase properties (including tax-forfeited land), demolish unsafe structures, rehabilitate buildings, and sell properties to return them to productive use. The bill directly affects communities struggling with blighted properties, which currently cost local governments lost tax revenue and safety hazards. Key mechanisms include land banks operating with the flexibility of private property owners, accepting tax-forfeited properties from the state, and establishing financing structures for redevelopment. The law aims to address neighborhood deterioration and strengthen local economies by revitalizing underutilized land.