- Local Government Article
- August 10, 2017 | Authors: Neil J. Schechter; Timothy D. A. Chriss; David H. Fishman; Y. Jeffrey Spatz; Edward J. Levin; Seth M. Rotenberg; Searle E. Mitnick; William D. Shaughnessy; Peter B. Rosenwald; Danielle Stager Zoller
- Law Firm: Gordon Feinblatt LLC - Baltimore Office
26. Chapters 618 and 619 (SB 957/HB 1168)
Counties and Municipalities - Land Bank Authorities
Local Government Article repealing and reenacting with amendments Sections 1–1401, 1–1403, 1–1405, 1–1406, 1–1408, 1–1409, 1–1410, 1–1412, 1–1413, 1–1414, 1–1415, 1–1419, and 1–1426(a)(1) to be under the amended subtitle “Subtitle 14. Establishment of Land Bank Authorities”
Tax – Property Article repealing and reenacting with amendments Sections 14–808(a), 14–824, 14–826, and 14–831
These Acts recodify and expand current enabling power to establish, by ordinance, a land bank authority, which was granted originally only to individual municipalities. Under these Acts, local governments, defined to include municipalities or counties, also have this authority. The Acts specify the various powers of a land bank authority, including the borrowing of money, issuing of bonds, investing of money, insuring real property assets against losses, improving real property, and raising revenue. The Acts authorize a land bank authority to quiet title or foreclose on property. The Acts provide for the collection of specified delinquent water and sewer bills through liens by a land bank authority. The Acts also specify the mechanism for the disposition of property acquired by a local land bank authority, and exempt property held by an authority from specified taxes under specified circumstances. Two or more local governments may enter into an intergovernmental cooperation agreement to create a single land bank to act on behalf of the local governments, which may include one or more water and sewer authorities.Effective October 1, 2017.