Summary of Original Version

Create new sections of KRS Chapter 99 to define "abandoned and blighted property," "actively marketed," "building," "competent entity," "conservator," "conservator's fee," "costs of rehabilitation," "historic structure," "immediate family," "local government," "owner," "party in interest," "rehabilitation," and "vacant"; establish the guidelines for filing and serving a petition for the appointment of a conservator to take possession of and undertake the rehabilitation of an abandoned or blighted property and the procedure for hearing the petition; establish the powers and duties of the conservator; provide for the submission of a plan by the conservator to rehabilitate, demolish, or sell the abandoned and blighted property; establish standards for termination of the conservatorship; establish the short title of "Abandoned and Blighted Property Conservatorship Act"; EFFECTIVE January 1, 2022.