Bill > LB1116

This bill amends the Sports Arena Facility Financing Assistance Act by changing provisions related to state assistance limitations, public hearings, and application approvals, aiming to harmonize existing laws. Specifically, it extends the maximum duration of state assistance for sports complexes in second-class cities or villages from five to ten years, modifies the timeline for the board to make decisions on applications after public hearings, and adjusts the criteria for approving applications, stating that an application is approved unless the board finds the project ineligible or state assistance not in the state's best interest. It also clarifies that the board *may* consider an applicant's financial capacity when determining if assistance is in the state's best interest, rather than *shall*, and changes the voting requirement for board decisions to a majority of members present, rather than all board members. The bill also repeals the original sections of law that are being amended and declares an emergency, meaning it will take effect immediately upon passage and approval.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63235