NE LB314

Expands eligibility for state assistance under the Sports Arena Facility Financing Assistance Act to allow "coapplicants" (a political subdivision and a nonprofit corporation) to jointly apply when both have adopted resolutions authorizing financing for an eligible sports arena facility

Defines lease agreements between coapplicants for use of an eligible sports arena facility at fair market rental value for terms up to twenty years

Creates a new temporary approval process for coapplicant applications, which becomes permanent if a building permit is issued within 24 months; the approval becomes void if no permit is issued within that timeframe

Allows state assistance funds to be used to pay back debt incurred by nonprofit corporation coapplicants to acquire, construct, improve, or equip privately owned sports complexes, subject to voter approval