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 establishes a cap of $150 million for approved projects. The bill clarifies criteria for identifying associated hotels and nearby retailers in relation to eligible facilities, particularly those near the State Capitol, and specifies that state assistance can be utilized for capital improvements. Additionally, it outlines application requirements for state assistance and mandates annual reporting on funded projects to the Legislature.

Moreover, the legislation establishes a framework for allocating funds to areas with high poverty concentrations, ensuring that a portion of appropriated funds supports local development projects aimed at poverty reduction and small business growth. It requires the formation of committees to oversee fund distribution and emphasizes public purposes for state assistance. The bill also modifies the administration of the County Visitors Improvement Fund, allowing counties to use the fund for enhancing visitor attractions and facilities, and updates the definition of "visitor attraction" to include various significant locations. Certain sections of the Revised Statutes are repealed to streamline the legal framework governing these funds.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