Nebraska LB314 amends the Sports Arena Facility Financing Assistance Act to redefine eligibility criteria and usage of state assistance for sports.
Nebraska LB314 modifies the Sports Arena Facility Financing Assistance Act by changing eligibility criteria and the permissible uses of state assistance for sports arena facilities. The bill specifies that state assistance can only be used to pay back amounts borrowed for acquiring, constructing, improving, or equipping sports arena facilities, or to promote events open to the public. It also limits the duration of state funding for promoting arts and cultural events and sporting events to ten years.
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