Site and Building Development Fund; created; funding; use; investment.

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  4. Site and Building Development Fund; created; funding; use; investment.

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81-12,146. Site and Building Development Fund; created; funding; use; investment.

(1) The Site and Building Development Fund is created. The fund shall receive money pursuant to section 76-903 and may include revenue from transfers by the Legislature, grants, private contributions, repayment of loans, and all other sources. The Department of Economic Development, as part of its comprehensive business development strategy, shall administer the fund. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.

(2) It is the intent of the Legislature to transfer five million dollars from the General Fund to the Site and Building Development Fund for fiscal year 2022-23 and five million dollars from the General Fund to the Site and Building Development Fund for fiscal year 2023-24. Such money shall be placed in a subaccount of the Site and Building Development Fund and earmarked for use to fund large shovel-ready commercial and industrial sites developed under the Municipal Inland Port Authority Act.

Source

  • Laws 2011, LB388, § 3;
  • Laws 2015, LB457, § 3;
  • Laws 2021, LB156, § 14.
  • Effective Date: August 28, 2021

Cross References

  • Municipal Inland Port Authority Act, see section 13-3301.
  • Nebraska Capital Expansion Act, see section 72-1269.
  • Nebraska State Funds Investment Act, see section 72-1260.


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