This bill amends various sections of Nebraska's Revised Statutes to update provisions related to several funds and taxes, notably the documentary stamp tax, the Child Care Grant Fund, and the Military Installation Development and Support Fund. A significant change includes increasing the documentary stamp tax rate from $2.25 to $3.30 per $1,000 of value, with reallocated tax revenues benefiting the Affordable Housing Trust Fund and the Child Care Grant Fund. The bill also raises the maximum grant amount for the Child Care Grant Fund from $10,000 to $15,000 and shortens the eligibility period for grant recipients from three years to two years. Additionally, it establishes new operational guidelines for the Child Care Grant Fund and introduces provisions for the Military Installation Development and Support Fund to aid community organizations serving veterans.

Furthermore, the bill outlines financial transfers from the Economic Recovery Contingency Fund to support various initiatives, including a $750,000 transfer to the Museum Construction and Maintenance Fund and a $30 million transfer to the Inland Port Authority Fund for an innovation district. It also allocates 25% of state Medicaid fraud settlement funds to the Health Care Homes for the Medically Underserved Fund, enhancing services for low-income populations. The act is set to take effect on October 1, 2025, and includes the repeal of several original sections of the Revised Statutes of Nebraska.

Statutes affected:
Introduced: 43-2622, 43-2624, 55-901, 58-703, 76-901, 76-903, 77-1327, 81-3140