Preference for opportunity zones approved

Senators passed a bill April 18 designed to rejuvenate economically disadvantaged areas.

LB87, introduced by Omaha Sen. Justin Wayne, requires that the state Department of Economic Development provide a preference for grant applications at least partially located within an opportunity zone as designated by the federal Tax Cuts and Jobs Act.

Projects that meet the program requirements for the Affordable Housing Trust Fund, the Business Innovation Act, the Job Training Cash Fund and the Site and Building Development Fund and are located in an opportunity zone are given priority consideration for funding under the bill.

Lawmakers approved LB87 on a 49-0 vote.