This bill amends sections of the Nebraska Investment Finance Authority Act and the Nebraska Affordable Housing Act to enhance the reporting and accountability requirements for the Nebraska Investment Finance Authority and the Department of Economic Development. It introduces new definitions, including "budget administrator" and "public funds," and outlines specific duties for the authority, such as maintaining an accounting system for public funds, submitting regular reports to key state officials, and providing requested information related to public fund expenditures.

Additionally, the bill establishes new reporting requirements for qualified recipients of funds from the Affordable Housing Trust Fund, mandating quarterly schedules of fund usage and annual reporting on project obligations and repayments. It also includes provisions for disqualification of recipients who fail to comply with these reporting requirements and outlines the recapture of unutilized funds. The bill aims to ensure proper use of funds and enhance transparency in the allocation and management of affordable housing resources in Nebraska.

Statutes affected:
Introduced: 58-201, 58-708