LB 240 — Change certain notice provisions under the Community Development Law

LB240 LB240 2025 LEGISLATURELEGISLATIVE OFBILL NEBRASKA240 ONEApproved HUNDREDby NINTHthe LEGISLATUREGovernor FIRSTMarch SESSION11, LEGISLATIVE2025 BILL 240 FINAL READING   Introduced by Jacobson, 42.

Read  firstA timeBILL JanuaryFOR 14,AN 2025ACT Committee:relating to the Community Development Law;

Urban Affairs A BILL FOR AN ACT relating to the Community Development Law;

Be it enacted by the people of the State of Nebraska, -1- LB240 LB240 2025 Section 1.

Any decision of the county board of equalization may be appealed to the Tax Equalization and Review Commission, in accordance with section 77-5013, within thirty days -2- LB240 LB240 2025 after the date of the decision;

(3)(a) For any redevelopment plan located in a city of the metropolitan class that includes a division of taxes, as provided in this section, that produces, in whole or in part, funds to be used directly or indirectly for (i) new construction, rehabilitation, or acquisition of housing for households with annual incomes below the area median income for households and located within six hundred yards of a public passenger -3- LB240 LB240 2025 streetcar or (ii) new construction, rehabilitation, or acquisition of single-family housing or condominium housing used as primary residences for individuals with annual incomes below the area median income for individuals, such housing shall be deemed related to the redevelopment plan that authorized such division of taxes regardless of whether such housing is or will be located on real property within such redevelopment plan, as long as such housing supports activities occurring on or identified in such redevelopment plan.

(b) During each fiscal year in which the funds described in subdivision (a) of this subsection are available, the authority and city shall make best efforts to allocate not less than thirty percent of such funds to single-family -1- LB240 LB240 2025 housing deemed related to the redevelopment plan described under such subdivision.

(5) The effective date of a provision dividing ad valorem taxes as provided in subsection (4) of this section shall not occur until such -4- LB240 LB240 2025 time as the real property in the redevelopment project is within the corporate boundaries of the city.

-5--2-