The bill amends section 77-4405 of the Revised Statutes Cumulative Supplement, 2024, concerning the eligibility criteria for projects under the Good Life Transformational Projects Act. It specifies that a project is eligible if it meets certain financial thresholds based on its location, with new legal language indicating that applicants must "sufficiently" demonstrate job creation and sales to out-of-state residents. The bill outlines specific job creation requirements depending on the project's location, ranging from 1,000 jobs in metropolitan cities to 50 jobs in smaller areas. Additionally, it establishes criteria for sales to out-of-state residents and stipulates that anticipated state sales tax revenue diversions must be offset by sales tax paid on development costs.

Furthermore, the bill includes provisions for the adjustment of good life district boundaries, allowing applicants to file amended maps and request increases in district size under certain conditions. It also mandates that the department must approve any boundary adjustments based on continued eligibility criteria and local government confirmations. The bill repeals the original section 77-4405, indicating a comprehensive update to the eligibility and operational framework for projects under the Good Life Transformational Projects Act.

Statutes affected:
Introduced: 77-4405