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NE LB583
Bill
Status
1/22/2025
Primary Sponsor
Ashlei Spivey
Click for details
AI Summary
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Increases Nebraska's documentary stamp tax on real estate transfers from $2.25 to $3.30 per $1,000 of value, with county retention rising from $0.50 to $0.75 per transaction
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Redistributes the state portion of stamp tax revenue across nine funds: Affordable Housing Trust Fund ($1.05), Behavioral Health Services Fund ($0.40), Child Care Grant Fund ($0.40), Site and Building Development Fund ($0.25), Homeless Shelter Assistance Fund ($0.25), plus smaller allocations to five other funds
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Expands child care grants to include licensed providers at child care centers or at-home facilities, increases maximum grant from $10,000 to $15,000, and shortens eligibility waiting period from three years to two years between grants
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Requires the Affordable Housing Trust Fund to distribute at least 5 cents per $1.05 received to emerging developers (businesses under 10 years old) and at least 20 cents to special population housing programs serving seniors, persons with disabilities, reentry housing, or public housing
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Becomes operative October 1, 2025
Legislative Description
Change provisions relating to the rate and disbursement of the documentary stamp tax, the Child Care Grant Fund, child care grants, the Military Installation Development and Support Fund, the Affordable Housing Trust Fund, the Innovation Hub Cash Fund, the Economic Recovery Contingency Fund, and the Health Care Homes for the Medically Underserved Fund
Last Action
Title printed. Carryover bill
1/7/2026