LINCOLN- A bill that would provide north and south Omaha about $475 million in recovery resources moved forward Tuesday in the Legislature, but its future remains uncertain.

LB1024 cleared the first of three rounds of debate on a 28-0 vote, with 19 lawmakers declining to vote.

The bill would create a fund of about $475 million that would be distributed to serve qualified census tracts within Omaha city limits.

According to State Sen. Justin Wayne of Omaha, who introduced the bill, LB 1024 would bring a long-awaited revitalization for the historically neglected region of North Omaha. Among the proposed plans in the bill are avenues for residents to access jobs and affordable housing.

Although the bill identifies several other uses for the money, Wayne said the bill’s main purpose is to create the fund itself. Next legislative session, Wayne said he and Sen. Terrell McKinney of Omaha will introduce bills specifying acceptable uses for the money.

Throughout Tuesday’s debate, one big question kept coming up: Where is the $475 million coming from? The answer is still very much up in the air.

Multiple senators said they would only support LB 1024 for now and may change their vote in the future depending on the final details of the bill’s financial plan.

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