This bill amends several sections of Nebraska's Revised Statutes to modify the disbursement of the documentary stamp tax and the funding mechanisms for 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 revenue sources for these funds, such as the proceeds from the documentary stamp tax, and the introduction of new provisions that allow for greater flexibility in funding through appropriations, transfers, and other sources. The bill also mandates that the Department of Economic Development provide detailed annual reports on the Affordable Housing Trust Fund, including information on funded projects and their impacts.

Additionally, the bill establishes new guidelines for the Behavioral Health Services Fund, allowing for the use of funds for housing-related assistance for very low-income adults with serious mental illness. It specifies that up to twenty percent of excess funds may be allocated to regional behavioral health authorities for housing acquisition or rehabilitation. The bill also outlines the intent to transfer funds from the General Fund to the Site and Building Development Fund for specific fiscal years, aimed at supporting large commercial and industrial site development. The act is set to become operative on October 1, 2025, and repeals the original sections of the statutes that are being amended.

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