Convention Center Facility Financing Assistance Act
A Nebraska political subdivision may apply for state financial assistance through the Nebraska Department of Revenue (DOR) that has acquired, constructed, improved, or equipped or has approved a bond issue to acquire, construct, improve, or equip eligible facilities may apply to the board for state assistance. A convention center means 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 an area selected by the applicant 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 could include 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. See Neb. Rev. Stat. ยงยง 13-2601 to 13-2613.
Applications will be accepted through December 31, 2030.
Notice to CenturyLink Center, Pinnacle Bank Arena, or Ralston Arena Retailers and Vendors
- Every person collecting and reporting sales tax for taxable sales or services made on the premises of or delivered to the 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.
