NE LR278

Nebraska Public Power District purchased 202 acres of farmland for over $5 million from its own Land Management Manager (responsible for land purchases) and Chief Audit and Ethics Officer

NPPD's appraisal valued the land at $11,000 per acre (~$2.3 million total), but the final purchase price was $25,000 per acre (~$5 million total), with the $2.7 million difference to be paid by Nebraska ratepayers

Neither the Land Management Manager nor the Chief Audit and Ethics Officer filed conflict-of-interest statements as of May 16, 2025, despite section 49-1499.03 requiring such disclosures for employees earning over $150,000 who take actions causing personal financial benefit

The Chief Audit and Ethics Officer earned more than $250,000 in 2024, and the Board of Directors' substantive discussion of the purchase occurred in closed executive session

The Legislature formally "recognizes" NPPD for the land purchase, with the resolution's recitation of facts appearing to highlight concerns about the transaction