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Code · Nebraska · Chapter 77 — Revenue and Taxation

77-3117. Program or project; proposal; contents; department; review; evaluation.

499 words·~2 min read·/ne/chapter-77/77-3117

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(1)A proposal submitted to the department shall only include all of the following:
(a)A description of the program or project to be conducted, including the eligible activities that will be provided as a result of the program or project;
(b)A description of the community development area, including the geographical location and boundaries of the community development area;
(c)The estimated amount to be required for completion of the program or project, including
(i)a proposed budget for the program or project with information on personnel and administrative overhead costs,
(ii)the amount of tax credits requested for the year of application, and
(iii)the amount of contributions pledged or anticipated from individuals or business firms eligible for tax credits as well as other sources of funding for the program or project;
(d)The annual estimated amount required for an ongoing program or project, including a proposed annual budget with information on personnel and administrative overhead costs, and the amount of tax credits anticipated to be sought in future years;
(e)A description of the community betterment organization's plans and capacity for implementing the program or project and continuing the program or project;
(f)Documentation that the proposal is supported by the appropriate subdivision of local government, including any letters of support on the proposal provided by such subdivision of local government, and information regarding whether the proposal is consistent with any community development plan that may exist for the area in which the community betterment organization will provide eligible activities; and
(g)If the community betterment organization is recognized by the Internal Revenue Service of the United States Department of the Treasury as an organization to which contributions are tax deductible, documentation of such recognition.
(2)The department shall review all proposals based on the following criteria:
(a)The extent to which the proposed program or project will create or maintain jobs, provide youth sport participation, stimulate economic development, or provide an economic benefit to the community development area;
(b)A demonstrated capacity and performance of the community betterment organization to execute the proposed program or project;
(c)The involvement of residents and community support of the affected area in the planning of the proposed program or project and the extent to which they will be involved in its implementation;
(d)The extent to which private sector contributions have been committed to the proposed program or project, contingent upon approval of the program or project by the department; and
(e)Documentation that the proposed program or project is supported by the appropriate subdivision of local government, including any letters of support provided by such subdivision of local government, and information regarding whether the proposed program or project is consistent with any community development plan that may exist for the area in which the community betterment organization will provide eligible activities.
(3)Proposals submitted subsequent to the first year shall be evaluated on performance of the prior year's program or project, other resources developed, and continued need.
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