The bill amends various sections of the Nebraska Revised Statutes to enhance the Convention Center Facility Financing Assistance Act and the Nebraska Visitors Development Act. It introduces new definitions, including "Applicant," which refers to the political subdivision seeking assistance, and "Maximum aggregate appropriation," which caps approved projects at $150 million. The legislation clarifies criteria for identifying associated hotels and nearby retailers in relation to eligible facilities, particularly those near the State Capitol. It also specifies that state assistance can be utilized for capital improvements and outlines the application requirements for seeking such assistance. Additionally, the bill establishes a framework for allocating funds to areas with high poverty concentrations, mandating that a portion of appropriated funds support local development projects aimed at reducing poverty and fostering entrepreneurship. It requires the formation of committees to oversee fund distribution and emphasizes community involvement in project selection. The bill also includes provisions for accountability, ensuring that funding recipients report on fund usage and project outcomes. Furthermore, it amends the County Visitors Improvement Fund to specify that funds are to be used to expand, improve, and maintain visitor attractions and facilities, while also clarifying restrictions on fund usage for facilities conducting parimutuel wagering. The bill streamlines the legal framework by repealing certain sections of the Revised Statutes related to these funds.

Statutes affected:
Introduced: 13-2603, 13-2604, 13-2605, 13-2606, 13-2607, 13-2610, 81-3717, 81-3720
Final Reading: 13-2603, 13-2604, 13-2605, 13-2610, 81-3717, 81-3720
Slip Law: 13-2603, 13-2604, 13-2605, 13-2610, 81-3717, 81-3720