Bill > LB852

This bill amends the Convention Center Facility Financing Assistance Act to allow for the recapture of funding distributed from the Convention Center Support Fund to certain recipients. Specifically, it adds a provision requiring recipients of funds from a committee formed to support areas with a high concentration of poverty to maintain their principal place of business or primary operations within that area for at least three years after receiving the funding. If an entity fails to do so, the county where the recipient is located can recapture the funding on a pro-rata basis for the period the requirement was not met, with the recaptured funds being returned to the Convention Center Support Fund or an applicable county development fund. This provision is intended to ensure that funds designated for impoverished areas are indeed used to benefit those communities. The bill also specifies an operative date of January 1, 2027, and repeals the original section of law it amends.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63364