This bill aims to restrict local governments in Nebraska from enacting ordinances that impose rent controls on private property. It defines key terms such as "local government" and "ordinance," and explicitly states that, with certain exceptions, local governments do not have the authority to create or enforce any laws that would result in rent control. The bill outlines that exceptions can be made for ordinances designed to increase the supply of affordable housing through specific land-use requirements or for programs that private property owners voluntarily agree to participate in, which may include rent restrictions.

Additionally, the bill asserts that it takes precedence over any home rule charter provisions, meaning local governments cannot override this law. Any ordinance that violates this section will be considered null and void. Overall, the legislation seeks to maintain a free market for rental properties while allowing for limited exceptions aimed at addressing affordable housing needs.