350 NAC 18-005. REPORTING BY REDEVELOPMENT AUTHORITIES

REG-18-005 REPORTING BY REDEVELOPMENT AUTHORITIES 005.01 On or before December 1 each year, any city which has approved redevelopment plans that are financed in whole or in part through the use of tax increment financing, shall file a report with the Property Tax Administrator for each plan. The report shall contain the following: 005.01A A copy of the redevelopment plan and any amendments thereto, approval date of the plan, the effective date for dividing the real property taxes as provided to the assessor and the location and boundaries of the property in the redevelopment project. 005.01B A short narrative description of the type of development undertaken, including the financing and type of business or commercial activity locating within the redevelopment area as a result of the redevelopment project. 005.02 The Property Tax Administrator shall compile the information obtained from the cities pursuant to Regulation 18-005 and information reported by the assessor or county clerk on the certificate of taxes levied for each redevelopment project into a report to be submitted to the Clerk of the Legislature by March 1 each year. 005.02A The report may also contain any recommendations that the Property Tax Administrator determines necessary to facilitate analysis of the uses, purposes, and effectiveness of tax increment financing and the process for its implementation. (Neb. Rev. Stat. Section 18-2117.01, R.S. Supp., 2006 and Neb. Rev. Stat. Section 77-702, R.S. Supp., 2007.)