Housing (Homeownership)

LB 819 amends Nebraska's Rural and Middle Income Workforce Housing Investment Acts to update key definitions and program rules. It specifically revises the cost limits for qualifying workforce housing: owner-occupied units must cost no more than $375,250 (adjusted annually for inflation), and rental units no more than $325,000. The bill also requires nonprofit developers applying for grants to provide 25% matching funds and caps annual grants at $5 million per organization over two years. These changes directly affect rural communities seeking housing development funding and nonprofit organizations managing workforce housing investment funds.

Nebraska's LB 938 creates a state tax-advantaged savings program to help first-time homebuyers. It allows individuals to contribute up to $5,000 annually (or $10,000 for joint filers) to designated savings accounts, reducing their state taxable income. Contributions can be used for eligible home purchase costs like down payments, closing fees, or construction financing for a primary residence in Nebraska. The program limits lifetime contributions to $25,000 per individual ($50,000 for joint filers) and requires account holders to designate a qualified beneficiary (the homebuyer) by April 15 each year. This directly affects first-time homebuyers who meet the definition: individuals without prior primary residence ownership or those divorced and not on title for 3+ years.

LB 622 establishes Nebraska's Statewide Housing Assistance Program, using the Affordable Housing Trust Fund to provide direct financial aid like downpayment assistance to low- and very low-income homebuyers. It expands eligible uses of the Trust Fund to include weatherization, energy improvements, and housing education programs, while requiring nonprofits and local groups to receive priority for funding. The bill mandates that at least 30% of annual Trust Fund dollars be allocated to each congressional district and prioritizes projects serving the lowest-income residents in blighted areas or enterprise zones. This program directly affects low-income households seeking homeownership and community organizations administering housing assistance across Nebraska.