This legislative bill amends various sections of Nebraska's statutes to enhance provisions related to census data, particularly concerning development districts and the Convention Center Facility Financing Assistance Act. It redefines key terms in acts such as the Community Development Law and the ImagiNE Nebraska Act, establishing that population data for financial assistance will be based on the latest federal decennial census or determined by the Department of Economic Development if unavailable. The bill also introduces new language for the formation of committees in high-poverty areas to identify projects and manage community development funds, while modifying the composition and procedures of these committees to include local government representatives and affected residents. Additionally, it clarifies the definition of "areas with a high concentration of poverty" using the most recent American Community Survey 5-Year Estimate.

Furthermore, the bill outlines criteria for tax incentives related to redevelopment projects and businesses in enhanced employment areas, defining terms such as "new investment" and "redeveloper." It specifies conditions for taxpayers to receive sales and use tax incentives based on investment and employment thresholds, with tiered incentives based on the level of investment and new hires. The bill also updates the definition of economic redevelopment areas to reference the American Community Survey 5-Year Estimate and establishes tax credits based on cumulative investment and new employee hiring. Additionally, it introduces criteria for designating "iHub" areas and outlines the roles of iHub partners and postsecondary educational institutions. The bill is set to become operative on July 1, 2025, and includes provisions for immediate effect due to an emergency.

Statutes affected:
Introduced: 13-1906, 13-2610, 18-2103, 77-6831, 77-6906, 81-1203