The Nebraska Public Property Disclosure Act aims to enhance transparency in the sale, lease, or purchase of real property by political subdivisions. Under this act, the governing body of a political subdivision is required to hold an open and public hearing before any transaction involving real property. This hearing allows any individual to voice their opinions or concerns regarding the proposed sale, lease, or purchase. If the governing body decides to proceed with the transaction after the hearing, it must do so within two months; otherwise, a new hearing must be held.

Additionally, the governing body is mandated to publish a notice of the transaction at least ten days prior to its completion. This notice must be printed in a legal newspaper that is either published in or has general circulation within the political subdivision. The notice must include essential details such as the legal description, address, assessed value, proposed price, and the names of any involved parties. This legislation is designed to ensure that the public is informed and has the opportunity to participate in decisions regarding public property.