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There is no significant fiscal implication to the State.
Because the bill would not have statewide impact on units of local government of the same type or class, no comment from this office is required by the rules of the House/Senate as to its probable fiscal implication on units of local government.
Urban Land Banks are used for public authorities to hold, manage, and develop tax-foreclosed property. They convert vacant, abandoned and tax-foreclosed property back to productive use. Land banks are tools of the local government to economically develop or redevelop blighted communities.
Vacant properties tend to attract crime and remain substantial fire hazards. This has a negative impact on the surrounding community and spends municipal funds on nuisance abatement where there is a relatively small tax base to cover the services, thereby passing the cost elsewhere.
On the other hand this practice interferes with the free market by preventing private investors from having the opportunity to purchase these properties at county auction.
This bill would allow a lank bank in Dallas County to purchase and redevelop commercial property for these purposes.
For these reasons, we remain neutral.
The second chamber sponsor is Senator West.
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