One Hundred Ninth Legislature - First Session - 2025 Introducer€s Statement of Intent LB234 € Chairperson: Senator R. Brad von Gillern Committee: Revenue Date of Hearing: March 20, 2025 The following constitutes the reasons for this bill and the purposes which are sought to be accomplished thereby: LB 234 amends the Urban Redevelopment Act by expanding eligibility for the program. Currently, the program can only be used for applicants located in qualified census tracts (QCTs). LB 234 expands the geographical requirements to include census tracts that are adjacent to QCTs, thereby increasing the areas where the Urban Redevelopment Act can be used as an economic development incentive tool. € Principal Introducer:________________________________ Senator Danielle Conrad - 1 -