Bill
S 4876
Overview: S 4876, Relates to land banks, REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS, Introduced: November 17, 2025Purpose and Intent: This bill aims to establish a frame
Overview: S 4876, Relates to land banks, REFERRED TO CORPORATIONS, AUTHORITIES AND COMMISSIONS, Introduced: November 17, 2025
Purpose and Intent: This bill aims to establish a framework for the creation and operation of land banks in New York. Land banks are governmental entities or nonprofit corporations that are focused on the conversion of vacant, abandoned, and tax-delinquent properties into productive use.
Key Provisions:
- Authorizes the creation of land banks by municipalities or counties
- Outlines the powers and duties of land banks, including the ability to acquire, manage, maintain, and dispose of properties
- Provides for the funding of land bank operations through the retention of a portion of property tax revenues
- Establishes a process for the transfer of tax-foreclosed properties to land banks
Affected Parties and Impacts: This bill would primarily impact municipalities and counties, as well as owners of vacant, abandoned, and tax-delinquent properties. The establishment of land banks could help to revitalize communities by returning these properties to productive use.
Procedural and Timeline Considerations: The bill has been referred to the Corporations, Authorities and Commissions committee for further consideration. If passed, it would likely take some time for municipalities and counties to establish land banks and begin their operations.
Compiled from official sources — confirm details with the bill’s official record.
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