summary
Introduced
01/14/2025
01/14/2025
In Committee
01/16/2025
01/16/2025
Crossed Over
02/11/2025
02/11/2025
Passed
03/06/2025
03/06/2025
Dead
Signed/Enacted/Adopted
03/12/2025
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)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59166 |
BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Slip/LB240.pdf |
BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Final/LB240.pdf |
BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Engrossed/LB240.pdf |
Analysis - Committee Statement | https://nebraskalegislature.gov/FloorDocs/109/PDF/CS/LB240.pdf |
Fiscal Note for LB240 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB240_20250127-114338.pdf |
Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB240.pdf |
BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB240.pdf |
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