Authorizes the issuance of conduit revenue bonds under the Community Development Law in Nebraska.
Nebraska LB1168 amends the Community Development Law to authorize the issuance of conduit revenue bonds. It allows for the division of ad valorem taxes for redevelopment projects, with specific provisions for extremely blighted areas. The bill outlines the process for declaring areas as extremely blighted, the allocation of tax revenues, and the priority for funding single-family housing for low-income occupants. It also details the issuance of bonds, the exemption from property taxes, and the priority of liens on property.
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