Pennsylvania – HB 1682 allows for the creation of land banks
December 24, 2012
HB 1682 (Act No. 2012-153) signed by the governor October 24 and effective December 24, 2012 enables any county, city or borough with a population of 10,000 or more to establish a land bank and enables any township, borough or town to form a land bank with any land bank jurisdiction through an intergovernmental cooperation agreement. A land bank is a governmental or nonprofit entity that acquires, holds, and manages tax foreclosed, abandoned properties whose main purpose is to return vacant, abandoned and tax delinquent properties to productive re-use in accordance with local and regional plans for smart growth and development.