Bill > LB768

This bill expands the powers of the Nebraska Investment Finance Authority (NIFA) by allowing it to establish and manage nonprofit entities to further its goals and to transfer assets to these entities, clarifying that the debts of these entities are generally not the responsibility of NIFA. It also makes several changes to housing-related acts, including renaming the Nebraska Affordable Housing Act to include a new section, removing references to a now-eliminated housing advisory committee, and altering how funds from the Affordable Housing Trust Fund are disbursed, including requiring funds to be held in an interest-bearing escrow account and disbursed upon presentation of lien releases and invoices. Additionally, the bill modifies provisions related to state buildings and those constructed with state funds, specifying that certain buildings constructed or repaired with state grant funds and not owned by the state are exempt from specific energy conservation code requirements. Finally, it allows the Department of Economic Development to contract with statewide nonprofit organizations or state instrumentalities to help administer the Nebraska Affordable Housing Act, the Rural Workforce Housing Investment Act, and the Middle Income Workforce Housing Investment Act.

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https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=62938