This bill requires the Neighborhood Reinvestment Corporation to contract with a nonprofit that has relevant expertise to establish and operate (1) a membership-based national network to support the formation and operation of land banks, and (2) grant programs to support land banks and communities that are creating new land banks.

Land banks are entities designated by one or more state or local governments to acquire, steward, and dispose of vacant, abandoned, or other problem properties in accordance with locally determined priorities and goals.