Bill > LB1067

This bill modifies several provisions related to housing funds and taxation, including the Affordable Housing Trust Fund, the documentary stamp tax, the Rural Workforce Housing Investment Fund, and the Middle Income Workforce Housing Investment Fund. Specifically, it increases the documentary stamp tax rate from $2.32 to $3.00 per $1,000 of value for transfers before January 1, 2032, and maintains the $2.32 rate for transfers on or after that date. A portion of this tax revenue will now be directed to the Rural Workforce Housing Investment Fund and the Middle Income Workforce Housing Investment Fund, with specific amounts allocated to each. The bill also clarifies that after July 1, 2027, no money can be transferred out of the Affordable Housing Trust Fund, and it specifies that funds in the Rural Workforce Housing Investment Fund will be transferred to the General Fund starting July 1, 2027, while funds in the Middle Income Workforce Housing Investment Fund will be transferred to the General Fund starting July 1, 2029. Additionally, the bill adjusts how real estate transactions are considered "sales" for property tax assessment purposes based on the documentary stamp tax paid.