This bill amends several sections of the Nebraska Revised Statutes to update the provisions related to the Rural Workforce Housing Investment Act and the Middle Income Workforce Housing Investment Act. Key changes include adjustments to the definitions of "workforce housing," with the maximum construction costs for owner-occupied housing units increased from $225,000 to $375,000, and for rental housing units from $250,000 to $300,000. The bill also establishes a workforce housing grant program, allowing nonprofit development organizations to apply for grants to support the development of workforce housing in rural and urban communities, with specific matching fund requirements and limits on grant amounts.

Additionally, the bill introduces new deadlines for the allocation and reporting of grant funds, including a provision that any unallocated funds must be returned to the General Fund after July 1, 2037, for the Rural Workforce Housing Investment Fund and after July 1, 2029, for the Middle Income Workforce Housing Investment Fund. The bill emphasizes the need for annual reporting by nonprofit organizations to ensure compliance with the requirements of the housing investment acts, including the submission of financial records and program activity breakdowns. Overall, the bill aims to enhance the availability and quality of workforce housing in Nebraska's rural and urban areas.

Statutes affected:
Introduced: 81-1228, 81-1229, 81-1230, 81-1231, 81-1238, 81-1239, 81-1240