NE LB1246

Nebraska Investment Finance Authority must record all public fund revenue, balances, and expenditures in an accounting system and submit reports on fund conditions at least 20 days before each legislative session to the budget administrator, Legislative Fiscal Analyst, and Director of Economic Development

Monthly accounting of public fund transactions required, including grant/loan payment amounts, invoices, and administration/contracting expenditures, with additional reporting available upon request

Beginning July 1, 2026, Department of Economic Development must disburse 80% of housing development grant funds upon approval and the remaining 20% upon project completion

Beginning October 1, 2025, qualified recipients must submit quarterly schedules of fund uses within 30 days after each calendar quarter; failure to comply may result in disqualification from Affordable Housing Trust Fund and other department programs for up to 24 months

Beginning July 1, 2027, annual reporting requirements will track funds obligated to projects, repayment terms, unspent/repaid balances, and equity earned on homes purchased with down payment assistance awards