reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-269 - Bonds; legal investments; for whom; considered securities.

58-269.
Bonds; legal investments; for whom; considered securities.
The bonds issued by and under the authority of the Nebraska Investment Finance Authority Act by the authority are declared to be legal investments in which all public officers or public bodies of this state, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on insurance business, all banks, bankers, banking associations, trust companies, savings associations, savings and loan associations, building and loan associations, investment companies, and other persons carrying on a banking business, all administrators, guardians, executors, trustees, personal representatives, and other fiduciaries, and all other persons who are now or may later be authorized to invest in bonds or in other obligations of this state may invest funds, including capital, in their control or belonging to them. Such bonds are also hereby made securities which may be deposited with and received by all public officers and bodies of this state, any agency or political subdivision of this state, and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of this state is now or may be later authorized by law.
Source
Laws 1983, LB 626, § 69;
Laws 1991, LB 253, § 66.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-271 - Act, how construed.

58-271.
Act, how construed.
Neither the Nebraska Investment Finance Authority Act nor anything contained in such act is or shall be construed as a restriction or limitation upon any powers which the authority might otherwise have under any other law of this state, and such act is cumulative to such powers. Such act does and shall be construed to provide a complete, additional, and alternative method for the doing of the things authorized and shall be regarded as supplemental and additional to powers conferred by any other laws. The issuance of bonds under the provisions of such act need not comply with the requirements of any other state laws applicable to the issuance of bonds, notes, and other obligations. No proceedings, notice, or approval shall be required for the issuance of any bonds or any instrument or the security therefor, except as provided in such act. All projects for which funds are advanced, loaned, or otherwise provided by the authority under such act must be in compliance with any land-use, zoning, subdivision, and other laws of this state applicable to the lands upon which such project is to be constructed or located.
Source
Laws 1983, LB 626, § 71.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-272 - Authority; successor to certain entities; transfer of property, funds, and obligations to authority; actions by predecessor entities; how treated.

58-272.
Authority; successor to certain entities; transfer of property, funds, and obligations to authority; actions by predecessor entities; how treated.
The authority shall be the successor to the Nebraska Mortgage Finance Fund, the Agricultural Development Corporation, and the Nebraska Development Finance Fund. All properties, rights in land, buildings, records, and equipment and any funds, money, revenue, receipts, or assets of the Nebraska Mortgage Finance Fund, the Agricultural Development Corporation, and the Nebraska Development Finance Fund shall belong to the authority as successor. All obligations, debts, commitments, and liabilities of the Nebraska Mortgage Finance Fund, the Agricultural Development Corporation, and the Nebraska Development Finance Fund shall become obligations, debts, commitments, and liabilities of the authority. Any resolution with respect to the issuance of bonds by the Nebraska Mortgage Finance Fund, the Agricultural Development Corporation, or the Nebraska Development Fund and any other action taken by the Nebraska Mortgage Finance Fund, the Agricultural Development Corporation, or the Nebraska Development Finance Fund with respect to assisting in the financing of any project shall be a resolution of the authority or an action taken by the authority. The rules and regulations adopted by the Nebraska Mortgage Finance Fund, the Agricultural Development Corporation, and the Nebraska Development Finance Fund shall remain in effect until amended, repealed, or replaced by the authority. If a project application is pending before the Nebraska Mortgage Finance Fund, the Nebraska Agricultural Development Corporation, or the Nebraska Development Finance Fund on August 26, 1983, and such project is eligible to be financed under the Nebraska Mortgage Finance Fund Act, the Nebraska Agricultural Development Corporation Act, or the Nebraska Development Finance Fund Act, such project shall be deemed to be eligible for financing by the authority.
Source
Laws 1983, LB 626, § 72.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-273 - Building housing for individuals with disabilities; authority; duties; collaboration required.

58-273.
Building housing for individuals with disabilities; authority; duties; collaboration required.
(1) For purposes of this section, Olmstead Plan means the comprehensive strategic plan for providing services to individuals with disabilities that was developed in accordance with section 81-6,122.
(2) In order to help fulfill one of the goals of the Olmstead Plan, the authority shall use its best efforts to obtain state and federal grants for the purpose of building safe, affordable, and accessible housing for individuals with disabilities.
(3) The authority shall collaborate with the Department of Economic Development and the Department of Health and Human Services in obtaining such grants.
Source
Laws 2023, LB92, § 74.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-502 - Legislative findings.

58-502.
Legislative findings.
The Legislature finds and declares the following facts and purposes of the Nebraska Redevelopment Act:
(1) It is the policy of this state to make revisions in its statutory structure if this will encourage both new and existing businesses to relocate to and expand in Nebraska and to provide appropriate inducements to encourage them to do so if this will aid in the economic and population growth of the state and help create better jobs for the citizens of the State of Nebraska and if this can be done in a fiscally sound and effective manner;
(2) The prevention and elimination of blighted and substandard areas is a matter of state public policy and public interest;
(3) There exists in and around certain cities of this state areas which are blighted and substandard due to a lack of sufficient economic activity, public and private infrastructure, job growth, wage levels, population growth, low-income and moderate-income housing, business expansion, and new construction;
(4) Such conditions have prevented economic and population growth in certain areas and are beyond remedy solely by the normal regulatory process and the ordinary operations of private enterprise; and
(5) The elimination of such conditions through the rehabilitation, acquisition, and redevelopment of such areas, and the application of ad valorem taxes on new investment in such areas, as provided in the act, are public uses and public purposes which the Legislature intends that the act will help accomplish.
Source
Laws 1995, LB 830, § 2.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-507 - Property taxes; how divided.

58-507.
Property taxes; how divided.
The project agreement shall contain a provision that all property taxes levied on the assessed valuation of the real property or personal property, or both, in the project area of the redevelopment project by or for the benefit of all taxing bodies shall be divided, for a period not to exceed fifteen years after the effective date of such project agreement, as follows:
(1) That portion of the property tax which is produced by the levy at the rate fixed each year by or for each such taxing body upon the redevelopment project valuation shall be paid into the funds of each such taxing body in the same proportion as are all other taxes collected by or for such taxing body; and
(2) That portion of the property tax on real property, personal property, or both, as provided in the project agreement in the redevelopment project in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund established by the contracting public body to pay the principal of, the interest on, and any premiums due in connection with the bonds, loans, notes, advances of money, or other indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such contracting public body for financing or refinancing, in whole or in part, such redevelopment project. When such bonds, loans, notes, advances of money, or other indebtedness, including interest and premiums due, have been paid, the contracting public body shall so notify the county assessor and county treasurer and all property taxes upon taxable real property and personal property in such redevelopment project shall thereafter be paid into the funds of and applied as all other taxes of the respective taxing bodies.
Source
Laws 1995, LB 830, § 7.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-508 - Redevelopment project valuation; county assessor; duties.

58-508.
Redevelopment project valuation; county assessor; duties.
Commencing on the effective date of the project agreement, the county assessor, or county clerk if he or she is ex officio county assessor, of the county or counties in which the redevelopment project is located, shall transmit to the contracting public body and to the county treasurer, upon request, the redevelopment project valuation and shall annually certify to such contracting public body and the county treasurer the current valuation for assessment of taxable real property and personal property in the redevelopment project. The county assessor shall undertake, upon request of such contracting public body, an investigation, examination, and inspection of the taxable real property and taxable personal property in the redevelopment project and shall reaffirm or revalue the current value for assessment for such property in accordance with the findings of such investigation, examination, and inspection.
Source
Laws 1995, LB 830, § 8.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-509 - Property taxes; how treated.

58-509.
Property taxes; how treated.
In each year after the determination of a redevelopment project valuation as outlined in section 58-508, the county assessor and the county board of equalization of each affected county shall include no more than the redevelopment project valuation of the taxable real property and taxable personal property in the redevelopment project in the assessed valuation upon which is computed the rates of all taxes levied by any taxing body on such project. In each year for which the current assessed valuation on taxable real property and taxable personal property in the redevelopment project exceeds the redevelopment project valuation, the county treasurer shall remit to the contracting public body, instead of to any taxing body, that proportion of all property taxes on real property and personal property paid that year on the redevelopment project which such excess valuation bears to the current assessed valuation.
Source
Laws 1995, LB 830, § 9.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-510 - Pledge of taxes; authorized.

58-510.
Pledge of taxes; authorized.
In the proceedings for the issuance of bonds, the making of loans or advances of money, or the incurring of any indebtedness, whether funded, refunded, assumed, or otherwise, by a contracting public body to finance or refinance, in whole or in part, a redevelopment project, the portion of taxes mentioned in subdivision (2) of section 58-507 shall be pledged for the payment of the principal of, premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness.
Source
Laws 1995, LB 830, § 10.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-511 - Penal bond; required.

58-511.
Penal bond; required.
Any company entering into a project agreement for the undertaking of a redevelopment project pursuant to the Nebraska Redevelopment Act which contains the provision outlined in section 58-507 shall be required before commencing work to execute, in addition to all bonds that may be required, a penal bond with good and sufficient surety to be approved by the contracting public body conditioned that such contractor (1) shall at all times promptly make payments of all amounts lawfully due to all persons supplying or furnishing the contractor or its subcontractors with labor or materials performed or used in the prosecution of the work provided for in such contract and (2) will indemnify and save harmless the contracting public body to the extent of any payments in connection with the carrying out of such contracts which such contracting public body may be required to make under the law.
Source
Laws 1995, LB 830, § 11.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-512 - Powers supplemental; act, how construed.

58-512.
Powers supplemental; act, how construed.
The powers conferred by the Nebraska Redevelopment Act shall be in addition and supplemental to the powers conferred by any other law and shall be independent of and in addition to any other provision of the laws of the state with reference to the matters covered thereby and shall be considered as a complete and independent act and not as amendatory of or limited by any other provisions of the laws of the state. The act and all grants of power, authority, rights, or discretion made to a city and to a contracting public body shall be liberally construed, and all incidental powers necessary to carry into effect the provisions of the act are expressly granted to and conferred upon a city or a contracting public body.
Source
Laws 1995, LB 830, § 12.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-514 - Bonds; issuance.

58-514.
Bonds; issuance.
The contracting public body may issue bonds from time to time for any of its corporate purposes as specified in a project agreement or with respect to the acquisition, rehabilitation, or redevelopment of property in a designated blighted and substandard area or as otherwise permitted by the Nebraska Redevelopment Act. The contracting public body may also issue refunding bonds for the purpose of paying, retiring, or otherwise refinancing, or in exchange for any or all of the principal or interest upon bonds previously issued by it. The contracting public body may issue such types of bonds as it determines, including, without limiting the generality of the foregoing, bonds on which the principal and interest are payable:
(1) Exclusively from the income, proceeds, and revenue of the redevelopment project financed with proceeds of such bonds;
(2) Exclusively from the income, proceeds, and revenue of any of its redevelopment projects whether or not they are financed in whole or in part with the proceeds of such bonds;
(3) Exclusively from its revenue and income, including such tax revenue or receipts as may be authorized, including those which may be pledged under section 58-510, and from such grants and loans as may be received; or
(4) From all or part of the income, proceeds, and revenue enumerated in subdivisions (1), (2), and (3) of this section.
Any such bonds may be additionally secured by a pledge of any loan, grant, or contributions, or parts thereof, from the federal government or other source, or a mortgage of any redevelopment project or projects of the contracting public body, and the contracting public body shall not pledge the credit or taxing power of the state or any political subdivision thereof, except tax receipts authorized under this section or pledged under section 58-510, or place any lien or encumbrance on any property owned by the state, county, or city used by the contracting public body.
Source
Laws 1995, LB 830, § 14.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-516 - Bonds; how issued.

58-516.
Bonds; how issued.
Bonds of a contracting public body shall be authorized by resolution of its governing body and may be issued in one or more series and shall bear such date or dates, be payable upon demand or mature at such time or times, bear interest at such rate or rates, be in such denomination or denominations, be in such form either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable in such medium of payment, at such place or places, and be subject to such terms of redemption, with or without premium, as such resolution, its trust indenture, or mortgage may provide.
Source
Laws 1995, LB 830, § 16.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-517 - Bonds; how sold.

58-517.
Bonds; how sold.
The bonds may be sold by the contracting public body in such manner and for such price as the contracting public body determines, at a discount, at par, or at a premium, at private negotiated sale or at public sale after notice published prior to such sale in a legal newspaper having general circulation in the municipality, in such other medium of publication as the contracting public body deems appropriate, or may be exchanged by the contracting public body for other bonds issued by it under the Nebraska Redevelopment Act. Bonds which are issued under this section may be sold by the contracting public body to the federal government at private sale at a discount, at par, or at a premium and, if less than all of the authorized principal amount of such bonds is sold by the contracting public body to the federal government, the balance or any portion of the balance may be sold by the contracting public body at private sale at a discount, at par, or at a premium.
Source
Laws 1995, LB 830, § 17.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-518 - Bonds; signatures; negotiability.

58-518.
Bonds; signatures; negotiability.
In case any of the members or officers of the contracting public body whose signatures appear on any bonds shall cease to be such members or officers before the delivery of such bonds, such signatures shall, nevertheless, be valid and sufficient for all purposes, as if such members or officers had remained in office until the delivery. Any bonds issued pursuant to the provisions of the Nebraska Redevelopment Act are fully negotiable.
Source
Laws 1995, LB 830, § 18.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-519 - Bonds; presumption of validity.

58-519.
Bonds; presumption of validity.
In any suit, action, or proceedings involving the validity or enforceability of any bond of a contracting public body or the security therefor brought after the lapse of thirty days after the bonds are issued, any such bond reciting in substance that it has been issued by the contracting public body to aid in financing a redevelopment project shall be conclusively deemed to have been issued for such purpose and such project shall be conclusively deemed to have been planned, located, and carried out in accordance with the purposes and provisions of the Nebraska Redevelopment Act.
Source
Laws 1995, LB 830, § 19.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-521 - Default; contracting public body; powers.

58-521.
Default; contracting public body; powers.
The contracting public body may by resolution, trust indenture, mortgage, lease, or other contract confer upon any obligee holding or representing a specified amount in bonds, the right to, in addition to all rights that may otherwise be conferred, upon the happening of an event of default as defined in such resolution or instruments, by suit, action, or proceeding in any court of competent jurisdiction:
(1) Cause possession of any redevelopment project or any part of the project, title to which is in the contracting public body, to be surrendered to any such obligee;
(2) Obtain the appointment of a receiver of any redevelopment project of the contracting public body or any part of the project, title to which is in the contracting public body, and of the rents and profits from the project. If a receiver is appointed, he or she may enter and take possession of, carry out, operate, and maintain such project or any part of the project and collect and receive all fees, rents, revenue, or other charges thereafter arising from the project, and shall keep such money in a separate account or accounts and apply the same in accordance with the obligations of the contracting public body as the court directs; and
(3) Require the contracting public body and the members, officers, agents, and employees of the contracting public body to account as if it and they were the trustee of an express trust.
Source
Laws 1995, LB 830, § 21.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-522 - Obligee; rights.

58-522.
Obligee; rights.
An obligee of a contracting public body shall have the right in addition to all other rights which may be conferred upon such obligee, subject only to any contractual restrictions binding upon such obligee:
(1) By mandamus, suit, action, or proceeding at law or in equity to compel the contracting public body and the members, officers, agents, or employees to perform each and every term, provision, and covenant contained in any contract of the contracting public body with or for the benefit of such obligee and to require the carrying out of any or all such covenants and agreements to the contracting public body and the fulfillment of all duties imposed upon the contracting public body by the provisions of the Nebraska Redevelopment Act; and
(2) By suit, action, or proceeding in equity to enjoin any acts or things which may be unlawful or the violation of any of the rights of such obligee of the contracting public body.
Source
Laws 1995, LB 830, § 22.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-523 - Bonds; authorized investment.

58-523.
Bonds; authorized investment.
All public officers, municipal corporations, political subdivisions, and public bodies; all banks, trust companies, bankers, savings banks, financial institutions, building and loan associations, savings and loan associations, investment companies, and other persons carrying on a banking business; all insurance companies, insurance associations, and other persons carrying on an insurance business; and all executors, administrators, curators, trustees, and other fiduciaries may legally invest any sinking funds, money, or other funds belonging to them or within their control in any bonds or other obligations issued by a contracting public body pursuant to the Nebraska Redevelopment Act and such bonds and other obligations shall be authorized security for all public deposits. It is the purpose of this section to authorize any person, political subdivision, and officer, public or private, to use any funds owned or controlled by them for the purchase of any such bonds or other obligations. However, nothing contained in this section with regard to legal investments shall be construed as relieving any person of any duty of exercising reasonable care in the selection of securities.
Source
Laws 1995, LB 830, § 23.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-525 - Bonds or certificates; validation.

58-525.
Bonds or certificates; validation.
(1) Bonds or certificates, when validated under section 58-524, shall have stamped or written on the bond or certificate, by the proper officers of such contracting public body issuing them, a statement in substantially the following form: "This bond is one of a series of bonds which were validated by judgment of the District Court for ............ County, rendered on .......... 20....".
(2) A certified copy of the judgment or decree shall be received as evidence in any court in this state.
Source
Laws 1995, LB 830, § 25;
Laws 2004, LB 813, § 27.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-526 - Public body or taxing body; supplemental powers.

58-526.
Public body or taxing body; supplemental powers.
In addition to any other provisions governing any public body or taxing body set forth in the Nebraska Redevelopment Act, for the purpose of aiding and cooperating in the planning, undertaking, or carrying out of a redevelopment project located within the area in which it is authorized to act, any public body or taxing body may, upon such terms, with or without consideration, as it may determine:
(1) Dedicate, sell, convey, or lease any of its interest in any property, or grant easements, licenses, or any other rights or privileges therein to a contracting public body;
(2) Cause parks, playgrounds, recreational, community, educational, water, sewer, or drainage facilities, or any other works which it is otherwise empowered to undertake, to be furnished in connection with a redevelopment project;
(3) Furnish, dedicate, close, vacate, pave, install, grade, regrade, plan, or replan streets, roads, sidewalks, ways, or other places which it is otherwise empowered to undertake;
(4) Plan, replan, zone, or rezone any part of the public body or taxing body or make exceptions from building regulations and ordinances if such functions are of the character which the public body or taxing body is otherwise empowered to perform;
(5) Cause administrative and other services to be furnished to the contracting public body of the character which the public body or taxing body is otherwise empowered to undertake or furnish for the same or other purposes;
(6) Incur the entire expense of any public improvements made by such public body or taxing body in exercising the powers granted in this section;
(7) Do any and all things necessary or convenient to aid and cooperate in the planning or carrying out of a redevelopment project;
(8) Lend, grant, or contribute funds to a contracting public body;
(9) Employ any funds belonging to or within the control of such public body or taxing body, including funds derived from the sale or furnishing of property, service, or facilities to a contracting public body, in the purchase of the bonds or other obligations of a contracting public body and, as the holder of such bonds or other obligations, exercise the rights connected with the bonds or obligations; and
(10) Enter into agreements, which may extend over any period, notwithstanding any provision or rule of law to the contrary, with a contracting public body respecting action to be taken by such public body or taxing body pursuant to any of the powers granted by the provisions of the act.
Source
Laws 1995, LB 830, § 26.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-527 - Sale, conveyance, lease, or agreement; how made.

58-527.
Sale, conveyance, lease, or agreement; how made.
Any sale, conveyance, lease, or agreement provided for in section 58-526 may be made by a public body or taxing body without appraisal, public notice, advertisement, or public bidding.
Source
Laws 1995, LB 830, § 27.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-528 - Contracting public body; estimate of expenses; appropriations; bonds authorized.

58-528.
Contracting public body; estimate of expenses; appropriations; bonds authorized.
A contracting public body may, at such time as it may deem necessary, file with the governing body or governing bodies to which it relates an estimate of the amounts necessary to be appropriated by the governing body or governing bodies to defray the expense of the contracting public body arising under the Nebraska Redevelopment Act. Such governing body may appropriate from its general fund and place at the disposal of the contracting public body an amount sufficient to assist in defraying such expense. Any city or county located within the area of operation of the contracting public body or the designated blighted and substandard area may grant funds to a contracting public body for the purpose of aiding such contracting public body in carrying out any of its powers and functions under the act. To obtain funds for this purpose, such city or county may levy taxes and may issue and sell its bonds. Any bonds to be issued by such city or county pursuant to this section shall be issued in the manner and within the limitations, except as otherwise provided by the act, prescribed by the laws of this state for the issuance and authorization of bonds by a city or county for any public purpose.
Source
Laws 1995, LB 830, § 28.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-529 - School districts; additional expenses; appropriations.

58-529.
School districts; additional expenses; appropriations.
Any school district impacted by a project approved under the Nebraska Redevelopment Act, the Invest Nebraska Act, or the Quality Jobs Act may file with the governing body an estimate of the amount of additional expenses of the school district as a result of the project which is in excess of amounts compensated by additional valuation or state aid. The governing body may appropriate funds to the school district to compensate for all or part of the impact.
Source
Laws 1995, LB 830, § 29;
Laws 2001, LB 620, § 46.
Cross References
Invest Nebraska Act, see section 77-5501.
Quality Jobs Act, see section 77-4901.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-530 - Presumption of compliance.

58-530.
Presumption of compliance.
Any instrument executed by a contracting public body and purporting to convey any right, title, or interest in any property under the Nebraska Redevelopment Act shall be conclusive evidence of compliance with the provisions of the act insofar as title or other interest of any bona fide purchasers, lessees, or other transferees of such property is concerned.
Source
Laws 1995, LB 830, § 30.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-531 - Act; how construed.

58-531.
Act; how construed.
The Nebraska Redevelopment Act shall be full authority for the creation of or to act as a contracting public body by a city or cities and for the exercise of the powers of the act granted to a city or cities and to such contracting public bodies, and no action, proceeding, or election shall be required prior to the creation of or action by a contracting public body or to authorize the exercise of any of the powers granted in the act, except as specifically provided in the act, any provision of law or of any city charter or village law to the contrary notwithstanding.
No proceedings for the issuance of bonds of a contracting public body are required other than those required by the provisions of the act, and the provisions of all other laws and city charters, if any, relative to the terms and conditions for the issuance, payment, redemption, registration, sale, or delivery of bonds of public bodies, corporations, or political subdivisions of this state shall not be applicable to bonds issued by a contracting public body pursuant to the act.
Insofar as the provisions of the act are inconsistent with the provisions of any other law or of any city charter, if any, the provisions of the act shall be controlling.
Source
Laws 1995, LB 830, § 31.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-533 - Filing of applications; limitation.

58-533.
Filing of applications; limitation.
There shall be no area applications or project applications filed on or after February 1, 2000, without further authorization of the Legislature, except that all area applications, all project applications, and all project agreements pending, approved, or entered into before such date shall continue in full force and effect.
Source
Laws 1995, LB 830, § 33;
Laws 1997, LB 344, § 2.
2023 Nebraska Revised Statutes › Chapter 58 - Money and Financing › 58-611 - Definitions.

58-611.
Definitions.
For purposes of the Nebraska Uniform Prudent Management of Institutional Funds Act:
(1) Charitable purpose means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community.
(2) Endowment fund means an institutional fund or part thereof that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. The term does not include assets that an institution designates as an endowment fund for its own use.
(3) Gift instrument means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund.
(4) Institution means:
(A) a person, other than an individual, organized and operated exclusively for charitable purposes;
(B) a government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose; and
(C) a trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated.
(5) Institutional fund means a fund held by an institution exclusively for charitable purposes. The term does not include:
(A) program-related assets;
(B) a fund held for an institution by a trustee that is not an institution; or
(C) a fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise upon violation or failure of the purposes of the fund.
(6) Person means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.
(7) Program-related asset means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment.
(8) Record means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.
Source
Laws 2007, LB136, § 2.
2023 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.
2023 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.
2023 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 one hundred 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;
Laws 2022, LB795, § 1.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.