Nebraska LB240 modifies notice provisions for dividing ad valorem taxes in redevelopment projects.
Nebraska LB240 amends the Community Development Law to change how ad valorem taxes are divided in redevelopment projects. It specifies that notices for dividing taxes must be sent to the county assessor by August 1 of the year the provision takes effect. The bill also repeals the original section 18-2147 and declares an emergency, meaning it takes effect immediately upon approval.
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