reglab/housing_qa huggingface dataset:
NE Code § 58-613 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-613 - Appropriation for expenditure or accumulation of endowment fund; rules of construction.

58-613.  Appropriation for expenditure or accumulation of endowment fund; rules of construction.(a) Subject to the intent of a donor expressed in the gift instrument, an institution may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines is prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. Unless stated otherwise in the gift instrument, the assets in an endowment fund are donor-restricted assets until appropriated for expenditure by the institution. In making a determination to appropriate or accumulate, the institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, and shall consider, if relevant, the following factors:(1) the duration and preservation of the endowment fund;(2) the purposes of the institution and the endowment fund;(3) general economic conditions;(4) the possible effect of inflation or deflation;(5) the expected total return from income and the appreciation of investments;(6) other resources of the institution; and(7) the investment policy of the institution.(b) To limit the authority to appropriate for expenditure or accumulate under subsection (a) of this section, a gift instrument must specifically state the limitation.(c) Terms in a gift instrument designating a gift as an endowment, or a direction or authorization in the gift instrument to use only income, interest, dividends, or rents, issues, or profits, or to preserve the principal intact, or words of similar import:(1) create an endowment fund of permanent duration unless other language in the gift instrument limits the duration or purpose of the fund; and(2) do not otherwise limit the authority to appropriate for expenditure or accumulate under subsection (a) of this section.Source Laws 2007, LB136, § 4.
NE Code § 58-614 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-614 - Delegation of management and investment functions.

58-614.  Delegation of management and investment functions.(a) Subject to any specific limitation set forth in a gift instrument or in law other than the Nebraska Uniform Prudent Management of Institutional Funds Act, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in:(1) selecting an agent;(2) establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and(3) periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the scope and terms of the delegation.(b) In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.(c) An institution that complies with subsection (a) of this section is not liable for the decisions or actions of an agent to which the function was delegated.(d) By accepting delegation of a management or investment function from an institution that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state in all proceedings arising from or related to the delegation or the performance of the delegated function.(e) An institution may delegate management and investment functions to its committees, officers, or employees as authorized by law of this state other than the Nebraska Uniform Prudent Management of Institutional Funds Act.Source Laws 2007, LB136, § 5.
NE Code § 58-615 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-615 - Release or modification of restrictions on management, investment, or purpose.

58-615.  Release or modification of restrictions on management, investment, or purpose.(a) If the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpose other than a charitable purpose of the institution.(b) The court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if the restriction has become impracticable or wasteful, if it impairs the management or investment of the fund, or if, because of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund. The institution shall notify the Attorney General of the application, and the Attorney General must be given an opportunity to be heard. To the extent practicable, any modification must be made in accordance with the donor's probable intention.(c) If a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve, or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument. The institution shall notify the Attorney General of the application, and the Attorney General must be given an opportunity to be heard.(d) If an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution, sixty days after notification to the Attorney General, may release or modify the restriction, in whole or part, if:(1) the institutional fund subject to the restriction has a total value of less than twenty-five thousand dollars;(2) more than twenty years have elapsed since the fund was established; and(3) the institution uses the property in a manner consistent with the charitable purposes expressed in the gift instrument.Source Laws 2007, LB136, § 6.
NE Code § 58-616 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-616 - Reviewing compliance.

58-616.  Reviewing compliance.Compliance with the Nebraska Uniform Prudent Management of Institutional Funds Act is determined in light of the facts and circumstances existing at the time a decision is made or action is taken, and not by hindsight.Source Laws 2007, LB136, § 7.
NE Code § 58-617 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-617 - Application to existing institutional funds.

58-617.  Application to existing institutional funds.The Nebraska Uniform Prudent Management of Institutional Funds Act applies to institutional funds existing on or established after September 1, 2007. As applied to institutional funds existing on September 1, 2007, the act governs only decisions made or actions taken on or after that date.Source Laws 2007, LB136, § 8.
NE Code § 58-618 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-618 - Relation to Electronic Signatures in Global and National Commerce Act.

58-618.  Relation to Electronic Signatures in Global and National Commerce Act.The Nebraska Uniform Prudent Management of Institutional Funds Act modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., as the act existed on September 1, 2007, but does not modify, limit, or supersede section 101 of that act, 15 U.S.C. 7001(a), or authorize electronic delivery of any of the notices described in section 103 of that act, 15 U.S.C. 7003(b).Source Laws 2007, LB136, § 9.
NE Code § 58-619 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-619 - Uniformity of application and construction.

58-619.  Uniformity of application and construction.In applying and construing this uniform act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.Source Laws 2007, LB136, § 10.
NE Code § 58-701 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-701 - Act, how cited.

58-701.  Act, how cited.Sections 58-701 to 58-711 shall be known and may be cited as the Nebraska Affordable Housing Act.Source   Laws 1996, LB 1322, § 11;   Laws 1997, LB 864, § 8.
NE Code § 58-702 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-702 - Legislative findings.

58-702.  Legislative findings.The Legislature finds that current economic conditions, lack of available affordable housing, federal housing policies that have placed an increasing burden on the state, and declining resources at all levels of government adversely affect the ability of Nebraska's citizens to obtain safe, decent, and affordable housing. Lack of affordable housing also affects the ability of communities to maintain and develop viable and stable economies.Furthermore, the Legislature finds that impediments exist to the construction and rehabilitation of affordable housing. Local codes and state statutes have an important effect on housing's affordability by placing increased costs on developers. Financing affordable housing, especially in rural areas and smaller communities, is becoming increasingly difficult. In addition, existing dilapidated housing stock and industrial buildings are detrimental to new affordable housing development and the general health and safety of people living and working in or around such places. An affordable housing trust fund would assist all Nebraska communities in financing affordable housing projects and other projects which make the community safer for residents.To enhance the economic development of the state and to provide for the general prosperity of all of Nebraska's citizens, it is in the public interest to assist in the provision of safe, decent, and affordable housing in all areas of the state. The establishment of the Nebraska Affordable Housing Act will assist in creating conditions favorable to meeting the affordable housing needs of the state.Source   Laws 1996, LB 1322, § 12;  Laws 2011, LB388, § 10.
NE Code § 58-703 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-703 - Affordable Housing Trust Fund; created; use.

58-703.  Affordable Housing Trust Fund; created; use.The Affordable Housing Trust Fund is created. The fund shall receive money pursuant to section 76-903 and may include revenue from sources recommended by the housing advisory committee established in section 58-704, appropriations from the Legislature, transfers authorized by the Legislature, grants, private contributions, repayment of loans, and all other sources. The Department of Economic Development as part of its comprehensive housing affordability strategy shall administer the Affordable Housing Trust Fund.Transfers may be made from the Affordable Housing Trust Fund to the General Fund, the Behavioral Health Services Fund, the Lead-Based Paint Hazard Control Cash Fund, the Rural Workforce Housing Investment Fund, and the Site and Building Development Fund at the direction of the Legislature.The State Treasurer shall transfer fifty-eight thousand one hundred eighty-eight dollars from the Affordable Housing Trust Fund to the General Fund on or before September 15, 2019, on such date as directed by the budget administrator of the budget division of the Department of Administrative Services.Source   Laws 1996, LB 1322, § 13;   Laws 1997, LB 864, § 9;  Laws 2004, LB 1083, § 100;  Laws 2005, LB 40, § 1;  Laws 2011, LB388, § 11;  Laws 2012, LB969, § 6;  Laws 2013, LB199, § 24;  Laws 2013, LB214, § 9;  Laws 2017, LB518, § 10;  Laws 2018, LB945, § 13;  Laws 2019, LB86, § 6.
NE Code § 58-704 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-704 - Housing advisory committee; created; members; duties; meetings.

58-704.  Housing advisory committee; created; members; duties; meetings.(1) The Legislature finds that the development of operational rules and regulations and an appropriate source of funding is critical to the success of the Affordable Housing Trust Fund. A housing advisory committee is created to address issues related to the operation of the fund and to recommend a plan to coordinate low-income housing efforts throughout the state. On or before December 15, 1996, the committee shall recommend to the Legislature and the Governor the most viable revenue source or sources for the funding of the fund. The committee shall also recommend for public review proposals for rules and regulations to carry out the fund, including time limitations for the use of financial assistance and limitations on the administrative costs of proposed projects. For administrative purposes, the committee shall be located in the Department of Economic Development.(2) The committee shall consist of fifteen members who represent a wide range of interests associated with the development and sales of housing. The Governor shall appoint the members and a chairperson and vice-chairperson from the members. The committee may be a committee or council previously created by statute or executive order of the Governor. The Governor shall attempt to have the nonprofit and for-profit communities equally represented on the advisory committee.(3) The committee shall meet at the call of the chairperson or a majority of the members. The chairperson shall call such meetings as he or she determines necessary to fulfill the duties of the committee. A quorum shall be one-half of the members.Source  Laws 1996, LB 1322, § 14.
NE Code § 58-705 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-705 - Department of Economic Development; Affordable Housing Trust Fund; duties.

58-705.  Department of Economic Development; Affordable Housing Trust Fund; duties.The Department of Economic Development shall use the Affordable Housing Trust Fund to finance loans, grants, subsidies, credit enhancements, and other financial assistance for community affordable housing projects and for expenses of the department as appropriated by the Legislature for administering the fund.Source  Laws 1996, LB 1322, § 15.
NE Code § 58-706 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-706 - Affordable Housing Trust Fund; eligible activities.

58-706.  Affordable Housing Trust Fund; eligible activities.The following activities are eligible for assistance from the Affordable Housing Trust Fund:(1) New construction, rehabilitation, or acquisition of housing to assist low-income and very low-income families;(2) Matching funds for new construction, rehabilitation, or acquisition of housing units to assist low-income and very low-income families;(3) Technical assistance, design and finance services, and consultation for eligible nonprofit community or neighborhood-based organizations involved in the creation of affordable housing;(4) Matching funds for operating costs for housing assistance groups or organizations when such grant or loan will substantially increase the recipient's ability to produce affordable housing;(5) Mortgage insurance guarantees for eligible projects;(6) Acquisition of housing units for the purpose of preservation of housing to assist low-income or very low-income families;(7) Projects making affordable housing more accessible to families with elderly members or members who have disabilities;(8) Projects providing housing in areas determined by the Department of Economic Development to be of critical importance for the continued economic development and economic well-being of the community and where, as determined by the department, a shortage of affordable housing exists;(9) Infrastructure projects necessary for the development of affordable housing;(10) Downpayment and closing cost assistance;(11) Demolition of existing vacant, condemned, or obsolete housing or industrial buildings or infrastructure;(12) Housing education programs developed in conjunction with affordable housing projects. The education programs must be directed toward:(a) Preparing potential home buyers to purchase affordable housing and postpurchase education;(b) Target audiences eligible to utilize the services of housing assistance groups or organizations; and(c) Developers interested in the rehabilitation, acquisition, or construction of affordable housing;(13) Support for efforts to improve programs benefiting homeless youth;(14) Vocational training in the housing and construction trades industries by nonprofit groups; and(15) Weatherization and solar or other energy improvements to make utilities for housing more affordable.Source   Laws 1996, LB 1322, § 16;  Laws 2004, LB 1083, § 101;  Laws 2005, LB 40, § 2;  Laws 2011, LB388, § 12;  Laws 2011, LB413, § 1;  Laws 2013, LB199, § 25;  Laws 2021, LB384, § 8.   Effective Date: April 27, 2021
NE Code § 58-707 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-707 - Assistance; qualified recipients.

58-707.  Assistance; qualified recipients.Organizations which may receive assistance under the Nebraska Affordable Housing Act are governmental subdivisions, local housing authorities, community action agencies, community-based or neighborhood-based or reservation-based nonprofit organizations, and for-profit entities working in conjunction with one of the other eligible organizations. For-profit entities that are eligible under this section shall be required to provide, or cause to be provided, matching funds for the eligible activity in an amount determined by the Department of Economic Development, which amount shall be at least equal to ten percent of the amount of assistance provided by the Affordable Housing Trust Fund. Political subdivisions, local housing authorities, community action agencies, and community-based, neighborhood-based, and reservation-based nonprofit organizations shall not be required to provide, or cause to be provided, such matching funds. Nothing in the act shall be construed to allow individuals to receive direct loans from the Affordable Housing Trust Fund.Source   Laws 1996, LB 1322, § 17;   Laws 1997, LB 864, § 10;  Laws 2019, LB86, § 7.
NE Code § 58-708 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-708 - Department of Economic Development; selection of projects to receive assistance; duties; recapture funds; when.

58-708.  Department of Economic Development; selection of projects to receive assistance; duties; recapture funds; when.(1) During each calendar year in which funds are available from the Affordable Housing Trust Fund for use by the Department of Economic Development, the department shall make its best efforts to allocate not less than thirty percent of such funds to each congressional district. The department shall announce a grant and loan application period of at least ninety days duration for all projects. In selecting projects to receive trust fund assistance, the department shall develop a qualified allocation plan and give first priority to financially viable projects that serve the lowest income occupants for the longest period of time. The qualified allocation plan shall:(a) Set forth selection criteria to be used to determine housing priorities of the housing trust fund which are appropriate to local conditions, including the community's immediate need for affordable housing, proposed increases in home ownership, private dollars leveraged, level of local government support and participation, and repayment, in part or in whole, of financial assistance awarded by the fund; and(b) Give first priority in allocating trust fund assistance among selected projects to those projects which are located in whole or in part within an enterprise zone designated pursuant to the Enterprise Zone Act or an opportunity zone designated pursuant to the federal Tax Cuts and Jobs Act, Public Law 115-97, serve the lowest income occupant, are located in an area that has been declared an extremely blighted area under section 18-2101.02, and are obligated to serve qualified occupants for the longest period of time.(2) The department shall fund in order of priority as many applications as will utilize available funds less actual administrative costs of the department in administering the program. In administering the program the department may contract for services or directly provide funds to other governmental entities or instrumentalities.(3) The department may recapture any funds which were allocated to a qualified recipient for an eligible project through an award agreement if such funds were not utilized for eligible costs within the time of performance under the agreement and are therefor no longer obligated to the project. The recaptured funds shall be credited to the Affordable Housing Trust Fund.Source   Laws 1996, LB 1322, § 18;  Laws 2005, LB 40, § 3;  Laws 2011, LB388, § 13;  Laws 2014, LB800, § 5;  Laws 2014, LB906, § 17;  Laws 2015, LB457, § 1;  Laws 2017, LB217, § 3;  Laws 2019, LB86, § 8;  Laws 2019, LB87, § 1.  Cross References  Enterprise Zone Act, see section 13-2101.01.
NE Code § 58-709 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-709 - Rules and regulations.

58-709.  Rules and regulations.The Department of Economic Development, in consultation with the Nebraska Investment Finance Authority and the housing advisory committee established in section 58-704, shall adopt and promulgate rules and regulations to carry out the Nebraska Affordable Housing Act. The department shall monitor programs to see that only qualified individuals and families are occupying projects funded by the Affordable Housing Trust Fund.Source  Laws 1996, LB 1322, § 19.
NE Code § 58-711 (2021)
2021 Nebraska Revised Statutes|Chapter 58 - Money and Financing|58-711 - Information on status of Affordable Housing Trust Fund; report; contents.

58-711.  Information on status of Affordable Housing Trust Fund; report; contents.(1) The Department of Economic Development shall submit, as part of the department's annual status report under section 81-1201.11, the following information regarding the Affordable Housing Trust Fund: (a) The applications funded during the previous calendar year; (b) the applications funded in previous years; (c) the identity of the organizations receiving funds; (d) the location of each project; (e) the amount of funding provided to each project; (f) the amount of funding leveraged as a result of each project; (g) the number of units of housing created by each project and the occupancy rate; (h) the expected cost of rent or monthly payment of those units; (i) the projected number of new employees and community investment as a result of each project; (j) the amount of revenue deposited into the Affordable Housing Trust Fund pursuant to section 76-903; (k) the total amount of funds for which applications were received during the previous calendar year, the year-end fund balance, and, if all available funds have not been committed, an explanation of the reasons why all such funds have not been so committed; (l) the amount of appropriated funds actually expended by the department for the previous calendar year; (m) the department's current budget for administration of the Nebraska Affordable Housing Act and the department's planned use and distribution of funds, including details on the amount of funds to be expended on projects and the amount of funds to be expended by the department for administrative purposes; and (n) project summaries, including the applicant municipality, project description, grant amount requested, amount and type of matching funds, and reasons for approval or denial for every application seeking funds during the previous calendar year.(2) The status report shall contain no information that is protected by state or federal confidentiality laws.Source   Laws 1997, LB 864, § 7;  Laws 2011, LB404, § 3;  Laws 2013, LB214, § 10;  Laws 2019, LB86, § 9.