Nebraska LB1156 proposes a tax credit to incentivize private investment in economically distressed areas.
Nebraska LB1156, the Disinvested Community Development Incentive Tax Credit Act, aims to encourage private investment in economically distressed areas. It provides a tax credit for contributions to qualifying organizations for projects in these areas. Eligible activities include development or rehabilitation of affordable commercial or mixed-use space, industrial facilities, and community-serving facilities. The Department of Economic Development can award grants to eligible developers for qualified projects, up to a certain limit.
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