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Relating to the authority of a county to adopt a land bank program.
No fiscal implication to the State is anticipated.
SB 1115 would authorize a governing body of a county to adopt a land bank program in which the officer, charged with selling real property ordered sold pursuant to foreclosure, may sell certain eligible real property by private sale for purposes of affordable housing development. This bill would also define qualifications for participating developers, and requirements for a land bank plan.
Texas Action remains neutral on SB 1115 because it embodies conflicting liberty principles. In the past, we have been neutral on these bills because, while on one hand they interfere in the free market, these programs also address costly impacts of abandoned homes and property. In addition, vacant properties tend to attract crime and remain substantial fire hazards which have a generally negative impact on the surrounding community.
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