This bill aims to amend the Code of West Virginia by removing the sunset provision that currently limits the right of first refusal for land reuse agencies and municipal land banks to acquire certain tax-delinquent properties. Specifically, it eliminates the expiration date set for July 1, 2025, which would have ended the ability of these entities to purchase qualifying tax-delinquent properties before they are offered at public auction. The bill allows these agencies to acquire properties that meet specific criteria, such as having an assessed value of $50,000 or less, being on a vacant property registry for 24 months, or having municipal liens that exceed the back taxes owed.

Additionally, the bill stipulates that when a land reuse agency or municipal land bank exercises its right of first refusal, it must notify adjacent property owners within 15 days of obtaining a tax deed. These owners then have 120 days to express interest in purchasing the property. However, the land reuse agency or municipal land bank can refuse to sell to any adjacent property owner who is delinquent on state and local taxes or municipal fees. The removal of the sunset provision ensures that the right of first refusal remains in effect indefinitely, promoting the acquisition and potential redevelopment of tax-delinquent properties by these agencies.

Statutes affected:
Introduced Version: 31-18E-9