HB 5425
Relating to acquisitions of properties by land reuse agencies and urban renewal authorities.
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies West Virginia code to clarify the acquisition processes for land reuse agencies and urban renewal authorities. It outlines how these agencies can acquire properties, including through purchase contracts, lease-purchase agreements, and accepting transfers from municipalities or counties. The bill also addresses the acquisition of tax-delinquent properties, granting these agencies a right of first refusal in certain circumstances and establishing a reporting process to track their activities. Finally, it updates the requirements for land reuse agencies and municipal land banks regarding property ownership and taxation.
Key provisions
- Urban renewal authorities can acquire real property through various means, excluding oil, gas, and mineral interests.
- Municipalities and counties can transfer real property to urban renewal authorities under specific conditions.
- Land reuse agencies and municipal land banks can acquire properties through similar methods as urban renewal authorities.
- Urban renewal authorities have a right of first refusal to purchase tax-delinquent properties meeting certain criteria (assessed value, liens, vacancy, sale history, or condemnation).
- A reporting process is established requiring land reuse agencies and urban renewal authorities to submit annual reports to the West Virginia Land Stewardship Corporation.
- The West Virginia Land Stewardship Corporation will compile and report on these activities to the Joint Committee on Government and Finance.
- The Joint Committee on Government and Finance may audit these activities.
- The right of first refusal for tax-delinquent properties sunsets on July 1, 2026.
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