This legislative bill amends various sections of Nebraska's statutes to enhance the use of census data in the context of development districts and the Convention Center Facility Financing Assistance Act. Key updates include redefining terms under the Community Development Law and the ImagiNE Nebraska Act, and establishing that population data for counties will be based on the latest federal decennial census or determined by the Department of Economic Development if unavailable. The bill also introduces the American Community Survey 5-Year Estimate for identifying areas with high poverty concentrations, replacing previous references to the federal decennial census. Additionally, it outlines the distribution of funds from the Convention Center Support Fund, prioritizing allocations for projects aimed at reducing violence and promoting small business growth in high-poverty areas.

Furthermore, the bill sets forth criteria for tax incentives related to redevelopment projects, defining key terms such as "new investment" and "redeveloper." It specifies that taxpayers can receive sales and use tax incentives based on meeting investment thresholds and hiring new employees, with tiered incentives based on the level of investment. The bill also updates the definition of economic redevelopment areas to reference the American Community Survey 5-Year Estimate and outlines various tax credits available to businesses based on their investments and employment levels. Additionally, it establishes criteria for the designation of "iHub" areas to promote economic growth and includes provisions for immediate effect upon passage due to an emergency, with an operative date set for July 1, 2025.

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