Straight Talk with Steve
LB 496 is a bill which would expand the definition of redevelopment projects to include the new construction of workforce housing. By expanding the definition, the new development of workforce housing would be eligible for tax increment financing (TIF). Last year Sen. Friesen (LD34), Sen. Groene (LD42), and I, Sen. Erdman (LD47) led a successful filibuster against the bill.
LB 496 is not dead, though. The bill will come up again for a vote on the floor of the Legislature sometime next year. Last week, Sen. Stinner of Scottsbluff reaffirmed his commitment to the bill, saying, “I am determined to pass legislation that allows the use of tax increment financing…for workforce housing in rural Nebraska.”
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