Tax incentive data requirement approved

Lawmakers gave final approval April 18 to a bill intended to increase transparency regarding tax incentive programs in Nebraska.

LB629, introduced by Lincoln Sen. Danielle Conrad, requires information regarding tax incentive programs to be included as part of the governor’s biennial budget submission to the Legislature. Required information includes the number and type of jobs created and the average wage and benefits of those jobs.

The bill also eliminates a current requirement that the state Department of Revenue make recommendations on tax expenditures and incentive programs and allows the governor to include such recommendations within the budget proposal.

The bill passed 47-0.