This bill amends several sections of Nebraska's revenue and taxation laws, specifically focusing on the disbursement of the documentary stamp tax and the funding of various trust funds, including the Affordable Housing Trust Fund, the Homeless Shelter Assistance Trust Fund, the Behavioral Health Services Fund, and the Site and Building Development Fund. Key changes include the removal of specific language regarding the sources of revenue for these funds, allowing for a broader range of funding sources such as appropriations, transfers, grants, and private contributions. The bill also introduces new provisions for the Behavioral Health Services Fund to provide housing-related assistance for very low-income adults with serious mental illness, and it outlines the use of funds for community-based behavioral health services.

Additionally, the bill specifies that the Tax Commissioner will design stamps for tax collection, with changes to how the collected funds are allocated. The original requirement for specific amounts to be credited to the Affordable Housing Trust Fund, the Site and Building Development Fund, the Homeless Shelter Assistance Trust Fund, and the Behavioral Health Services Fund has been modified to allow for more flexibility in fund management. The bill is set to become operative on October 1, 2025, and it repeals the original sections of the law that are being amended.

Statutes affected:
Introduced: 58-703, 58-711, 68-1604, 71-812, 76-903