(1) Upon establishing a good life district economic development program, the city is authorized to establish any one or more of the following local sources of revenue for the program within the applicable good life district program area:

(a) A local option sales and use tax of up to the greater of (i) the difference between the state sales tax rate levied in general and the state sales tax rate levied on transactions occurring within a good life district or (ii) two and three-quarters percent upon the same transactions that are sourced under the provisions of sections 77-2703.01 to 77-2703.04 within the good life district program area on which the State of Nebraska is authorized to impose a tax pursuant to the Nebraska Revenue Act of 1967, as amended from time to time. The city is authorized to impose such sales and use tax by ordinance of its governing body, and such sales and use tax shall be in addition to any local option sales tax imposed by the city pursuant to section 77-27,142. The administration of such sales and use tax shall be by the Tax Commissioner in the same manner as provided in section 77-27,143. The Tax Commissioner shall collect the tax imposed pursuant to this subdivision concurrently with collection of a state tax in the same manner as the state tax is collected. The Tax Commissioner shall remit monthly the proceeds of such tax to the city levying the tax. All relevant provisions of the Nebraska Revenue Act of 1967, as amended from time to time, and not inconsistent with the Good Life District Economic Development Act, shall govern transactions, proceedings, and activities pursuant to any local option sales and use tax imposed under this subdivision;

(b) A general business occupation tax upon the businesses and users of space within the good life district program area. The city is authorized to impose such occupation tax by ordinance of its governing body, and any occupation tax imposed pursuant to this subdivision shall make a reasonable classification of businesses, users of space, or kinds of transactions for purposes of imposing such tax. The collection of a tax imposed pursuant to this subdivision shall be made and enforced in such a manner as the governing body of the city shall determine in such ordinance to produce the required revenue. The governing body may provide that failure to pay the tax imposed pursuant to this subdivision shall constitute a violation of the ordinance and subject the violator to a fine or other punishment as provided by such ordinance; or

(c) Such portion of a city's local option sales and use tax established pursuant to section 77-27,142 which has been designated by the city for such purpose pursuant to an ordinance, which may only include amounts collected on transactions occurring within the good life district program area, and which may be further restricted by the city in such ordinance, or dedicated to pay such expenses as agreed to between the city and the good life district applicant.

(2) The local option sales and use tax imposed pursuant to subdivision (1)(a) of this section shall be separate and apart from any sales and use tax imposed by the city pursuant to the Local Option Revenue Act and shall not be considered imposed by or pursuant to the Local Option Revenue Act for any purpose under Nebraska law. The local option sales and use tax imposed pursuant to subdivision (1)(a) of this section shall not be subject to deduction for any refunds made pursuant to section 77-4105, 77-4106, 77-5725, or 77-5726, and shall not be affected by or included in the tax incentives available under the Employment and Investment Growth Act, the Nebraska Advantage Act, the ImagiNE Nebraska Act, the Nebraska Advantage Transformational Tourism and Redevelopment Act, the Urban Redevelopment Act, or any other tax incentive act which affects the local option sales tax imposed by a city pursuant to the Local Option Revenue Act.

(3) All local sources of revenue which have been established for a good life district shall remain in effect and shall not end or terminate until the associated good life district economic development program terminates.