Housing

Nebraska's LB 231 adopts the Uniform Special Deposits Act, creating standardized rules for "special deposits" held by financial institutions (like banks, credit unions, or digital asset depositories). These deposits include funds for specific purposes such as escrow for property sales, tenant security deposits, or payment system guarantees, where beneficiaries (e.g., tenants or buyers) receive funds upon meeting agreed conditions. The law defines key terms like "contingency" (a specific event triggering payment) and ensures financial institutions must pay beneficiaries when conditions occur and they have knowledge of the event. This applies to all such deposits governed by an account agreement, regardless of the parties' connection to Nebraska, and clarifies when beneficiaries can claim funds without court intervention.

LB 182 amends Nebraska's Affordable Housing Tax Credit Act and Child Care Tax Credit Act to clarify how tax credits can be used. It allows developers of affordable housing projects to transfer or sell their allocated tax credits to other taxpayers (like investors), and expands permitted uses of child care tax credits beyond their original scope. The bill specifically updates rules for allocating credits to pass-through entities (like partnerships or LLCs) and ensures credits only apply to projects completed after 2018. These changes directly affect affordable housing developers and childcare providers seeking tax credit benefits.