Bill > LB399

This bill modifies provisions of the Mutual Finance Assistance Act, primarily changing the population and valuation qualifications for rural or suburban fire protection districts and mutual finance organizations to receive distributions from the Mutual Finance Assistance Fund. The key changes include lowering the population threshold from eighty to sixty percent for qualifying for fund distributions and adjusting the calculation method for assumed population. The bill maintains the requirement that mutual finance organizations must have a three-year agreement with members levying a consistent property tax rate, with the tax rate intended to jointly fund operations and excluding levies for existing bonded indebtedness or lease-purchase contracts. The legislation also removes some obsolete language from previous versions of the law and specifies that the act will become operative on October 1, 2025. The modifications aim to provide more flexibility and potentially expand eligibility for financial assistance to rural and suburban fire protection districts and mutual finance organizations by using a more inclusive population calculation method.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59401