2022 Nebraska Revised Statutes
Chapter 81 - State Administrative Departments
81-12,210 - Transactions or activities excluded.
81-12,210. Transactions or activities excluded.
The following transactions or activities shall not create investment under the Nebraska Rural Projects Act except as specifically allowed by this section:
(1) The renegotiation of any private donor commitment in existence before the date of application, except to the extent of additional donation commitments;
(2) The purchase of any property which was previously owned by the applicant or a related entity. The first purchase by either the applicant or a related entity shall be treated as investment if the item was first placed in service in the state after the date of application;
(3) The renegotiation of any agreement in existence on the date of application which does not materially change any of the material terms of the agreement shall be presumed to be a transaction entered into for the purpose of facilitating benefits under the act and shall not be allowed in the calculation of investment under the act; and
(4) Any purchase of property from a related entity, except that the applicant will be considered to have made investment under the act to the extent the related entity would have been considered to have made investment on the purchase of the property if the related entity was considered the applicant.
Source
- Laws 2021, LB40, ยง 16.
