Nebraska LB1129 amends the Community Development Law to redefine terms, change real property acquisition rules, and alter tax division provisions for.
Nebraska LB1129 modifies the Community Development Law by redefining terms such as "affordable housing" and "extremely blighted area." It changes rules for acquiring real property, allowing cities to undertake redevelopment projects outside their corporate limits if certain conditions are met. The bill also alters tax division provisions for redevelopment projects, specifying how ad valorem taxes are to be divided and for how long. It includes provisions for expedited reviews of redevelopment plans and sets limits on the number of such plans a city can approve annually.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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