Inflation adjustment proposed for renewable energy tax rate
The tax on owners of renewable energy generation facilities would be indexed to inflation under a proposal heard Jan. 24 by the Revenue Committee.
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Revenue
School aid increase proposed to reduce property taxes
The Revenue Committee heard testimony Jan. 22 on a proposal to reduce the state’s reliance on property taxes to fund education by increasing state aid to public schools.
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Expanded child care tax credit advanced
Self-employed child care providers could apply for a state income tax credit under a bill advanced from general file Jan. 22.
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Tax exclusion for military retirement income advanced
Senators gave first-round approval Jan. 13 to a bill that would allow military retirees to exclude half of their military retirement benefit pay from state income tax.
Read moreSession Review: Revenue
The Revenue Committee advanced bills this session that would require a political subdivision to hold a public hearing before increasing its property tax request, require out-of-state internet retailers to collect state sales tax on purchases made by Nebraska residents and allow a county to impose a sales tax to pay a federal judgment against it.
Read moreCollege savings proposal, military housing tax exemption vetoed
Gov. Pete Ricketts vetoed a bill June 4 that exempted military housing units from property taxation and allowed an income tax deduction against employer contributions to state college savings accounts.
Read moreCollege savings proposal, military housing tax exemption approved
A bill that exempts military housing units from property taxation and allows an income tax deduction against employer contributions to state college savings accounts received final approval in the Legislature May 30.
Read moreCollege savings proposals approved
A bill creating three new state college savings programs received final approval in the Legislature May 24.
Read moreBusiness tax incentives stall on second round
An effort to create a new business tax incentive program to replace the Nebraska Advantage Act stalled on select file May 24 after a failed cloture vote.
Read moreValuation adjustment for destroyed property approved
Lawmakers passed a bill May 24 intended to provide tax relief to those whose property has been destroyed by a natural disaster.
Read moreHousing assistance priority for extremely blighted areas approved
Affordable housing projects in extremely blighted areas will receive first priority for state assistance under a bill passed by the Legislature May 24.
Read moreCollege savings proposal amended, advanced
A bill that would allow an individual to claim an income tax deduction against contributions that his or her employer makes to a state college savings account was advanced to the final round of debate May 21 after lawmakers amended it to remove the sponsoring senator’s proposal.
Read moreCollege savings account for each Nebraska newborn advanced
A bill that would create two college savings programs advanced from the second round of debate May 21 after lawmakers amended it to include a proposal to open an account for each Nebraska resident when he or she is born.
Read moreCertain public power equipment exempted from sales tax
Streetlights and power poles owned by a city are exempt from state sales and use tax under a bill passed by lawmakers May 23.
Read moreLast-ditch property tax relief effort stalls
A scaled-down property tax relief proposal stalled in the Legislature May 22 after a failed cloture vote.
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