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NebraskaLB126109th Legislature 1st and 2nd Sessionslegislature

Change provisions relating to redemption of bonds of political subdivisions

Sponsored By: Rick Holdcroft

Signed by Governor

Government, Military and Veterans Affairs Committee

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Counties get more bond call flexibility

County bonds sold to an underwriting firm in a competitive sale do not have to include the standard five‑year call feature. Counties and underwriters can set different call terms for these bonds. The bond documents must clearly state when the five‑year call does not apply.

Simpler process to call some bonds

If a bond has no special call procedure, the governing body can call it by resolution or ordinance. The call can depend on issuing refunding bonds or another event that brings in the needed money. The issuer must deposit enough funds with the paying agent to pay the bonds and interest to the call date. If not, the call is canceled and the bonds continue. Some mailed notice and filing steps from earlier law are no longer required.

Sponsors & Cosponsors

Sponsor

  • Rick Holdcroft

    Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 89 • No: 0

legislature vote • 2/21/2025

Final Reading

Yes: 48 • No: 0 • Other: 1

legislature vote • 1/29/2025

Vote

Yes: 41 • No: 0 • Other: 8

Actions Timeline

  1. Approved by Governor on February 25, 2025

    2/25/2025legislature

  2. Presented to Governor on February 21, 2025

    2/21/2025legislature

  3. President/Speaker signed

    2/21/2025legislature

  4. Passed on Final Reading 48-0-1

    2/21/2025legislature

  5. Placed on Final Reading

    2/13/2025legislature

  6. Advanced to Enrollment and Review for Engrossment

    2/7/2025legislature

  7. Placed on Select File

    1/31/2025legislature

  8. Advanced to Enrollment and Review Initial

    1/29/2025legislature

  9. Placed on General File

    1/27/2025legislature

  10. Notice of hearing for January 22, 2025

    1/15/2025legislature

  11. Referred to Government, Military and Veterans Affairs Committee

    1/14/2025legislature

  12. Date of introduction

    1/10/2025legislature

Bill Text

  • Introduced

    1/10/2025

    PDF

  • Enrolled / Slip Law

    PDF

  • Final / Enacted

    PDF

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