Pursuant to Tenn. Code Ann. § 13-30-102, the Tennessee Legislature has declared land banks to be one of the tools Tennessee communities may use to facilitate the return of vacant, abandoned and tax-delinquent properties to productive use.
Pursuant to Tenn. Code Ann. § 13-30-112, the board of directors of the land bank corporation shall cause an annual audit to be made of the books and records of the corporation. With prior approval of the Comptroller of the Treasury, the audit may be performed by a licensed certified public accountant selected by the land bank corporation. A copy of the annual audit shall also be filed annually with the local government that created the land bank corporation.
Land Bank Report
In compliance with Tenn. Code Ann. § 13-30-119, the Comptroller's office filed a report with the governor and the state and local government committee of the senate and the local government committee of the house of representatives with recommendations concerning whether the pilot project should be continued, expanded or discontinued, together with recommended legislative actions based on such decision. A copy of the report can be found below.