State Codes and Statutes

Statutes > Nebraska > Chapter13 > 13-2610

13-2610. Convention CenterSupport Fund; created; use; investment; distribution to certain areas; developmentfund; committee.(1) Upon the annual certification undersection 13-2609, the State Treasurer shall transfer after the audit the amountcertified to the Convention Center Support Fund. The Convention Center SupportFund is created. Any money in the fund available for investment shall be investedby the state investment officer pursuant to the Nebraska Capital ExpansionAct and the Nebraska State Funds Investment Act.(2)(a) It is the intent of the Legislature to appropriate from the fundto any political subdivision for which an application for state assistanceunder the Convention Center Facility Financing Assistance Act has been approvedan amount not to exceed (i) seventy percent of the state sales tax revenuecollected by retailers and operators doing business at such facilities onsales at such facilities, state sales tax revenue collected on primary andsecondary box office sales of admissions to such facilities, and state salestax revenue collected by associated hotels, (ii) seventy-five million dollarsfor any one approved project, or (iii) the total cost of acquiring, constructing,improving, or equipping the eligible facility. State assistance shall notbe used for an operating subsidy or other ancillary facility.(b) Ten percent of such funds appropriated to a city of the metropolitanclass under this subsection shall be equally distributed to areas with a highconcentration of poverty to (i) showcase important historical aspects of suchareas or areas within closegeographic proximity of the area with a high concentration of poverty or (ii)assist with the reduction of street and gang violence in such areas.(c) Each area with a high concentration of poverty that has been distributedfunds under subdivision (b) of this subsection shall establish a developmentfund and form a committee which shall identify and research potential projects to be completed in the area with a highconcentration of poverty or in an area within close geographic proximity ofsuch area if the project would have a significant or demonstrable impact onsuch area and make final determinations on the use of state salestax revenue received for such projects.(d) A committee formed in subdivision (c) of this subsection shall includethe following three members:(i) The member of the city council whose district includes a majorityof the census tracts which each contain a percentage of persons below thepoverty line of greater than thirty percent, as determined by the most recentfederal decennial census, within the area with a high concentration of poverty;(ii) The commissioner of the county whose district includes a majorityof the census tracts which each contain a percentage of persons below thepoverty line of greater than thirty percent, as determined by the most recentfederal decennial census, within the area with a high concentration of poverty;and(iii) A resident of the area with a high concentration of poverty, appointedby the other two members of the committee.(e) A committee formed in subdivision (c) of this subsection shall solicitproject ideas from the public and shall hold a public hearing in the areawith a high concentration of poverty. Notice of a proposed hearing shall beprovided in accordance with the procedures for notice of a public hearingpursuant to section 18-2115. The committee shall research potential projects and make the finaldetermination regarding the annual distribution of funding to such projects.(f) For purposes of this subsection, an area with a high concentrationof poverty means an area within the corporate limits of a city of the metropolitanclass consisting of one or more contiguous census tracts, as determined bythe most recent federal decennial census, which contain a percentage of personsbelow the poverty line of greater than thirty percent, and all census tractscontiguous to such tract or tracts, as determined by the most recent federaldecennial census.(3) State assistance to the political subdivision shall no longer beavailable upon the retirement of the bonds issued to acquire, construct, improve,or equip the facility or any subsequent bonds that refunded the original issueor when state assistance reaches the amount determined under subdivision (2)(a)of this section, whichever comes first.(4) The remaining thirty percent of state sales tax revenue collectedby retailers and operators doing business at such facilities on sales at suchfacilities, state sales tax revenue collected on primary and secondary boxoffice sales of admissions to such facilities, and state sales tax revenuecollected by associated hotels, shall be appropriated by the Legislature tothe Local Civic, Cultural, and Convention Center Financing Fund.(5) Any municipality that has applied for and received a grant of assistanceunder the Local Civic, Cultural, and Convention Center Financing Act may notreceive state assistance under the Convention Center Facility Financing AssistanceAct. SourceLaws 1999, LB 382, § 10; Laws 2007, LB551, § 6; Laws 2008, LB754, § 1; Laws 2009, LB63, § 1; Laws 2010, LB975, § 1.Effective Date: July 15, 2010 Cross ReferencesLimitation on applications, see section 13-2612.Local Civic, Cultural, and Convention Center Financing Act, see section 13-2701.Nebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260.