Convention Center Facility Financing Assistance Act
A Nebraska political subdivision may apply to the Convention Center Facility Financing Assistance Act Board (Board) for state assistance if they have:
- Acquired, constructed, improved, or equipped eligible facilities;
- Approved the acquisition, construction, improvement, or equipping of eligible
facilities; or - Approved a bond issue to acquire, construct, improve, or equip eligible
facilities.
Eligible facilities are:
- Any publicly owned convention and meeting center facility approved for state assistance on or before June 1, 2007, and any publicly owned sports arena facility attached to such convention and meeting center facility; or
- Any publicly owned convention and meeting center facility or publicly owned sports arena facility acquired, constructed, improved, or equipped after June 1, 2007. *
* Beginning with applications received on or after February 1, 2008, an eligible facility does not include any publicly owned sports arena facility with a seating capacity greater than sixteen thousand seats.
A convention center and meeting center facility is a temperature-controlled building and personal property primarily used as a convention and meeting center. This includes an auditorium, an exhibition hall, a facility for onsite food preparation and serving, an onsite, directly connected parking facility for the use of the facility, a nearby parking facility for the use of the facility, and an onsite administrative office of the facility.
A municipality must own and operate the convention center. This means non-profits and other private entities may no longer own or operate a convention center under the Act.
For projects after September 2, 2023, the turnback tax will include nearby retailers and hotels that are within 600 yards of the facility. If the facility is within 600 yards of the State Capitol, the area used in determining nearby retailers or associated hotels subject to the turnback tax will be one or more contiguous or noncontiguous areas within the territorial boundaries of the applicant which is selected by the applicant and that aggregates the same total amount of square footage had it not been within 600 yards of the State Capitol. The area will be depicted on a map submitted with the application.
The state assistance, or turnback, allowed annually is up to 70% of the state sales tax revenue collected by retailers and operators doing business at such facilities on sales at such facilities, state sales tax revenue collected on primary and secondary box office sales of admissions at the eligible convention center facility, and state sales tax revenue collected by associated hotels and nearby retailers within 600 yards of the eligible convention center facility or a modified area approved for a facility that is within 600 yards of the State Capitol.
The maximum aggregate amount allowed for any one approved project is the total cost of acquiring, constructing, improving, repairing, replacing, financing, or equipping the eligible facilities of the political subdivision, not to exceed $150 million.
Applications will be accepted through December 31, 2030.
Neb. Rev. Stat. ยงยง 13-2601 to 13-2613
Notice to CHI Health Center Omaha (formerly CenturyLink Center), the Pinnacle Bank Arena, the Liberty First Credit Union Arena (formerly Ralston
Arena), and the Kearney SportsPlex Retailers and Vendors
- Every person collecting and reporting sales tax for taxable sales or services made on the premises of or delivered to the CHI Health Center Omaha (formerly CenturyLink Center) or Pinnacle Bank Arena must remit this form.
For additional information regarding the Convention Center Facility Financing Assistance Act, please contact Sinway Bouzid at 402-471-5669 or sinway.bouzid@nebraska.gov.
