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, except for certain exceptions, local governments do not have the authority to create or enforce any laws that would result in rent control. The bill outlines specific conditions under which ordinances may be exempt from this prohibition, including those aimed at increasing affordable housing through land-use requirements or voluntary programs that property owners may choose to participate in.

Additionally, the bill asserts that its provisions take precedence over any existing home rule charters, meaning that local governments cannot override this law with their own regulations. Any ordinance that violates this section will be considered null and void, reinforcing the bill's intent to maintain a consistent approach to rent control across the state.