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NE LB288
Bill
Status
6/2/2025
Primary Sponsor
Urban Affairs Committee
Click for details
AI Summary
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Adds "grid resiliency improvements" (backup generators, solar panels with battery storage, smart grid technology) as eligible projects under the Property Assessed Clean Energy Act, allowing municipalities to finance these improvements through special assessments
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Expands the definition of "blighted area" under the Community Development Law to include areas where less than 20% of housing is affordable, and allows redevelopment projects in such areas if at least 30% of housing will be affordable upon completion
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Exempts new construction and rental conversion projects funded by the Affordable Housing Trust Fund from state building energy code requirements and Department of Environment and Energy plan review
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Modifies Affordable Housing Trust Fund grant disbursement to 80% upon approval and 20% upon project completion, requires quarterly reporting on fund usage, and allows recapture of funds if housing development goals are not met
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Adds rent-to-own housing as an eligible category under the Middle Income Workforce Housing Investment Act, including requirements for homeownership incentive reserve accounts where at least $50 monthly is set aside from tenant rent for future home purchase
Legislative Description
Change provisions of the Property Assessed Clean Energy Act, the Community Development Law, the Nebraska Affordable Housing Act, and the Middle Income Workforce Housing Investment Act
Last Action
Provisions/portions of LB626 amended into LB288 by AM733
6/6/2025