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 sets forth criteria for the creation of these districts, including a minimum investment of three billion dollars and the goal of attracting at least ten million visitors annually. It provides for the issuance of bonds and the imposition of an occupation tax on transactions within these districts, while also allowing the Department of Transportation to enter into agreements for infrastructure development. The act emphasizes the confidentiality of application materials for these districts and aims to ensure that the economic benefits generated contribute significantly to the state's economy.

In addition to creating destination districts, the bill amends existing community development laws by redefining key terms and establishing that these districts will be treated as villages under the Community Development Law. It introduces new definitions related to redevelopment projects, such as "new investment," "redeveloper," and "workforce housing," and outlines the activities involved in redevelopment, including acquiring substandard areas and constructing public improvements. The bill also specifies criteria for defining "rural communities" and "substandard areas" that require redevelopment. Notably, it repeals the original section 18-2103 of the Revised Statutes Cumulative Supplement, 2024, to enhance clarity and effectiveness in addressing community redevelopment needs, particularly in rural areas, while ensuring affordable housing for working families.

Statutes affected:
Introduced: 18-2103