The Destination Nebraska Act is designed to stimulate economic development in Nebraska by establishing "destination districts" that focus on unique sports and retail mixed-use projects aimed at attracting out-of-state visitors. The bill outlines a framework for creating these districts, including an application process, eligibility criteria, and allowable costs such as construction and marketing expenses. It also permits the issuance of bonds to finance projects within these districts and introduces a state occupation tax on transactions occurring within them. The Department of Economic Development is granted authority to oversee the creation and management of these districts, emphasizing their role in generating economic activity and job creation.

In addition to establishing destination districts, the bill amends existing law by redefining terms under the Community Development Law, including the classification of "extremely blighted areas" to encompass those within a destination district. It introduces new definitions related to redevelopment projects, particularly in rural areas, such as "new investment" and "redevelopment project," which includes various revitalization activities. The bill also sets criteria for workforce housing, including cost limits for construction and rehabilitation, and repeals the original section 18-2103 of the Revised Statutes Cumulative Supplement, 2024, indicating a significant update to the legal framework governing redevelopment efforts. Overall, the act aims to enhance redevelopment initiatives, particularly for working families and economically challenged areas.

Statutes affected:
Introduced: 18-2103