The Destination Nebraska Act is designed to boost Nebraska's economic development by establishing "destination districts" that promote unique sports and retail mixed-use projects aimed at attracting out-of-state visitors. The bill outlines the application process for these districts, eligibility criteria, and the powers granted to applicants, including the ability to impose an occupation tax and issue bonds for financing projects. It also amends the Community Development Law by redefining "extremely blighted areas" to include regions within destination districts that meet specific unemployment and poverty thresholds. A community redevelopment authority will be established to oversee development within these districts, ensuring alignment with the act's objectives.

Furthermore, the bill introduces new definitions and clarifications related to redevelopment projects, particularly in rural and substandard areas. Key terms such as "new investment," "number of new employees," and "workforce housing" are defined, with an emphasis on redevelopment plans that adhere to municipal guidelines. The legislation specifies criteria for workforce housing, including cost limits for both owner-occupied and rental units, and outlines the activities involved in redevelopment, such as land acquisition and construction of public facilities. Additionally, the bill repeals the original section 18-2103 of the Revised Statutes Cumulative Supplement, 2024, indicating a significant update to the legal framework governing redevelopment efforts, ultimately aiming to enhance initiatives that address blighted areas and promote affordable housing for working families in rural communities.

Statutes affected:
Introduced: 18-2103