(1) The Legislature finds and determines that protecting investments in buildings through the completion of renewal, renovation, replacement, or repair projects is of critical importance to the State of Nebraska. The Legislature further recognizes that arresting the continued deterioration of buildings and limiting the effects of inflation on the costs of such renewal, renovation, replacement, or repair of such facilities at the earliest possible time is necessary for protecting such investment in the buildings of the State of Nebraska. The state, the University of Nebraska, and the Nebraska state colleges have a shared goal of protecting the assets of the state and maintaining them at a level which will attract and retain students and serve Nebraskans effectively. In order to further this critical goal, it is necessary, desirable, and advisable that the Legislature extend the University of Nebraska Facilities Program, the State College Facilities Program, and the other capital appropriations referenced in sections 85-419 to 85-425 and provide the University of Nebraska and the Nebraska state colleges the necessary authority to efficiently pursue prevailing financing strategies and achieve cost savings by authorizing the Board of Regents of the University of Nebraska and the Board of Trustees of the Nebraska State Colleges to enter into long-term financing contracts to finance the facilities referenced in sections 85-419 to 85-425. In order to accomplish these goals, it is necessary, desirable, and advisable that the Legislature confirm and extend such programs to provide funds for such purposes to the University of Nebraska and the Nebraska state colleges over a period of years.

(2) The Legislature recognizes the commitment of the Board of Regents of the University of Nebraska to provide matching funds (a) up to eleven million dollars per year for the period beginning with the fiscal year commencing July 1, 2009, and continuing through the fiscal year ending June 30, 2030, (b) up to two million five hundred thousand dollars per year for the period beginning with the fiscal year commencing July 1, 2021, and continuing through the fiscal year ending June 30, 2030, and (c) up to thirteen million five hundred thousand dollars per year for the period beginning with the fiscal year commencing July 1, 2030, and continuing through the fiscal year ending June 30, 2062, to supplement amounts appropriated from the General Fund pursuant to section 85-421 to be applied for the purposes described in section 85-421.

(3) The Legislature recognizes the commitment of the Board of Trustees of the Nebraska State Colleges to provide matching funds up to one million four hundred forty thousand dollars per year for the period beginning with the fiscal year commencing July 1, 2006, and continuing through the fiscal year ending June 30, 2040, to supplement amounts appropriated from the General Fund pursuant to section 85-424 to be applied for the purposes described in section 85-424.

(4) The Legislature further acknowledges and reaffirms the directive made by Laws 2019, LB297, section 38, which sets forth the intent of the Legislature to continue the appropriations set forth in Laws 2017, LB330, section 35, in the amount of eight hundred twenty thousand dollars per year through 2050; in Laws 2017, LB330, section 36, in the amount of two million one hundred sixty-five thousand nine hundred twenty-eight dollars per year through 2050; and in Laws 2017, LB330, section 37, in the amount of one million four hundred seventy-seven thousand dollars per year through 2050.

(5) The Legislature further acknowledges and affirms the directive made by Laws 2019, LB297, section 37, which sets forth the intent of the Legislature to continue the appropriations set forth in Laws 2013, LB198, section 37, in the amount of two million two hundred sixteen thousand dollars per year through 2035.

(6) Sections 85-419 to 85-425 do not modify, reduce, or eliminate any provision of subsection (10) of section 85-1414 requiring the approval of the Coordinating Commission for Postsecondary Education for any renewal, renovation, replacement, or repair project authorized by section 85-421 or 85-424 and undertaken by the Board of Regents of the University of Nebraska or the Board of Trustees of the Nebraska State Colleges.