Louisiana SB 189: BLIGHTED PROPERTY: Provides for creation of the State Land Banking Authority Act. (8/1/25)

Bill Text

2025 Regular Session ENROLLED
SENATE BILL NO. 189
BY SENATOR JENKINS
Prefiled pursuant to Article III, Section 2(A)(4)(b)(i) of the Constitution of Louisiana.
1 AN ACT
2 To enact Part VIII of Chapter 3 of Title 40 of the Louisiana Revised Statutes of 1950, to be
3 comprised of R.S. 40:599.1 through 599.32, relative to the creation of the State Land
4 Banking Authority Act; to provide relative to land banking; to provide relative to the
5 purpose; to provide relative to definitions; to provide relative to the establishment
6 of Land Banks by political subdivisions; to provide relative to the board of directors;
7 to provide relative to powers of the land bank authority; to provide relative to
8 property; to provide relative to the hiring of staff and consultants; to provide relative
9 to the appointment of receivers; to provide relative to internal administration; to
10 provide for immunity; to provide relative to property rights; to provide relative to
11 inventory and classification; to provide relative to tax liens; to provide relative to
12 money and proceeds; to provide for taxes; to provide for civil actions; to provide
13 relative to public property; to provide relative to annual reports; to provide relative
14 to bonds; to provide relative to trusts; to provide relative to securities; to provide
15 relative to conveyance of title and release of collateral; to provide relative to
16 enforcement of rights and duties; and to provide for related matters.
17 Be it enacted by the Legislature of Louisiana:
18 Section 1. Part VIII of Chapter 3 of Title 40 of the Louisiana Revised Statutes of
19 1950, comprised of R.S. 40:599.1 through 599.32, is hereby enacted to read as follows:
20 PART VIII. STATE LAND BANKING AUTHORITY ACT
21 §599.1. Declaration of purpose
22 The legislature hereby finds and declares the following:
23 (1) There exists in many cities of the state economically and physically
24 depressed areas which, among other things, suffer from high unemployment,
25 substandard and deteriorated structures, vacant and partially used lots, high
26 crime rates, and other blighting influences and undesirable conditions.
27 (2) Since the economic and physical ills and problems of depressed areas
ACT No. 443
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.

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1 typically necessitate the infusion of tax-supported services, improvements, and
2 assistance to relieve and remedy, it is a matter of public policy and concern that
3 corrective measures be taken.
4 §599.2. Definitions
5 The following terms, whenever used or referred to in this Part, have the
6 following respective meanings, unless a different meaning clearly appears from
7 the context:
8 (1) "Authority" means a quasi-public nonprofit entity created by one or
9 more local governments under this Part.
10 (2) "Board" means the board of directors of an authority.
11 (3) "Bond" means a bond issued by an authority under this Part.
12 "Bond" shall include a bond, a refunding bond, a note, and any other
13 obligation.
14 (4) "Cost" means:
15 (a) Purchase price of property.
16 (b) Cost of any improvements made to property.
17 (c) Amount to be paid to discharge each obligation necessary or desirable
18 to vest title to any part of the property in an authority or other owner.
19 (d) Amount to be paid to discharge each obligation necessary or
20 desirable to vest title to any party of property in an authority or other owner.
21 (e) Cost of any property, right, easement, franchise, or permit associated
22 with a project.
23 (f) Cost of labor, machinery, and equipment necessary to implement a
24 project.
25 (g) Financing charges.
26 (h) Interest and reserves for principal and interest and for
27 improvements.
28 (i) Cost of revenue and cost estimates, engineering and legal services,
29 plans, specifications, studies, surveys, and other expenses necessary or incident
30 to determining the feasibility or practicability of a project.
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Coding: Words which are struck through are deletions from existing law;
words in boldface type and underscored are additions.

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1 (j) Administrative expenses.
2 (k) Other expenses as necessary or incident to:
3 (i) Financing a project.
4 (ii) Acquiring and improving a project.
5 (iii) Placing a project in operation, including reasonable provisions for
6 working capital.
7 (iv) Operating and maintaining a project.
8 (5) "Local government" means a municipality or a parish.
9 (6) "Project" means any organized plan carried out by an authority in
10 relation to:
11 (a) Acquiring and rehabilitating abandoned and dilapidated properties.
12 (b) Marketing and leasing, selling, or otherwise transferring the
13 rehabilitated properties.
14 (7) "Project" includes:
15 (a) Acquiring land or an interest in land.
16 (b) Acquiring structures, equipment, and furnishings located on a
17 property.
18 (c) Acquiring proper