ord sunshine pumpers

life in rural nebraska

Mr. Pollard goes to Washington, er I mean Lincoln

with 2 comments

I testified yesterday to the Nebraska Legislature in support of LB 525, which makes several changes to LB 840.  LB 840 is the legislation that created the local sales tax program, which Valley County has used to great effect.

One component of the proposed legislation (LB 525) would provide, pending authorization by voters, is the ability for communities to capture 5/10 of 1% of their total taxable valuation for economic development.  This is up from 4/10 of 1% in the original legislation under LB 840.  A host of other positive changes are included, and if you have interest in reading more on the bill, you can find it here.

I did made the Unicameral Update, reporting the goings-ons in Lincoln, which you can read here.  What was so exciting for me was that of all the Nebraska communities which have utilized LB 840 (sales tax loan funds), Valley County was the community asked to advocate for the support of the bill.

Some economic development numbers that I shared with the senators:

  • From 2003 – 2009, 28 low interest business loans have been issued, in total of $1.65 million.
  • From 2001-2007, Valley County experienced 12.4% growth in non-farm employment
  • 3 major economic development projects completed – the ethanol plant, the industrial site and our new spec building.
  • $1.7 million has been raised from Jan. 2002- March 2008, with 76% of those funds, or $1.29 million going directly to local businesses
  • As I said to the senators, communities are empowered when given the powerful tools like LB 840.  Great results can take place in a short amount of time and Valley County has been a stellar example of that.  Here’s looking toward a successful LB 525.

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    Written by Caleb

    February 25, 2009 at 5:20 pm

    2 Responses

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    1. […] microlending was cut in 2009 by 66%.  What is frustrating is that rural microlending works.  Cutting a program that works is exactly what we’re *not* supposed to do in good […]

    2. […] bill from 2009, apparently has legs.  Recall, I testified on this bill last year (read more here) in an effort to show support on bill that would have tremendously good tidings for rural […]


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