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Bill > LB240


NE LB240

Change certain notice provisions under the Community Development Law


summary

Introduced
01/14/2025
In Committee
01/16/2025
Crossed Over
02/11/2025
Passed
03/06/2025
Dead
Signed/Enacted/Adopted
03/12/2025

Introduced Session

109th Legislature

Bill Summary

A BILL FOR AN ACT relating to the Community Development Law; to amend section 18-2147, Revised Statutes Cumulative Supplement, 2024; to change notice provisions relating to the division of taxes; to repeal the original section; and to declare an emergency.

AI Summary

This bill modifies notice provisions in the Community Development Law related to the division of ad valorem (property) taxes in redevelopment projects. Specifically, the bill changes the deadline for sending tax division notices from August 1 to July 1, requiring authorities to notify county assessors on or before July 1 of the year the tax division provision takes effect. If an authority fails to send this notice by the specified date, the taxes will remain undivided and be paid into the funds of public bodies receiving property taxes from the redevelopment project, rather than being divided as originally planned. The bill maintains the existing provisions about how taxes can be divided in redevelopment projects, including different time limits for projects in extremely blighted areas (up to 20 years) versus other areas (up to 15 years). The change appears to be a minor administrative adjustment to streamline the timing of tax division notifications, with potential consequences for authorities that miss the deadline. The bill includes an emergency clause, meaning it will take effect immediately upon passage and approval.

Committee Categories

Housing and Urban Affairs

Sponsors (1)

Last Action

Approved by Governor on March 11, 2025 (on 03/12/2025)

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