In order to gain organizational and operating efficiencies the Nebraska Legislature, on August 26, 1983, created the Nebraska Investment Finance Authority ("NIFA") as the successor to the three original entities:
- The Nebraska Mortgage Finance Fund ("NMFF") was created by the Nebraska Legislature on March 22, 1978 to provide a source of mortgage financing at reduced interest rates to low and moderate income persons in Nebraska for the purchase, construction or rehabilitation of single family residential housing.
- The Nebraska Agricultural Development Corporation ("NADC") was created by the Nebraska Legislature on August 22, 1982 to provide a source of agricultural financing at reduced interest rates to Nebraska farmers, ranchers and other agricultural enterprises.
- The Nebraska Development Finance Fund ("NDFF") was created by the Nebraska Legislature on July 17, 1982 to finance and provide technical assistance to manufacturing and industrial enterprises, pollution control facilities and, in blighted areas of the state, for construction or rehabilitation of retail, hotels or motels, and sports and recreation facilities for use by members of the general public.
The board of NIFA is representative of the industry sectors served by the predecessor entities (NMFF, NADC and NDFF).