Inclusion of tax incentive goals approved

Senators passed a bill March 27 that adds basic goal language to certain Nebraska tax incentive programs.

LB836, introduced by the Legislative Performance Audit Committee, adds language to the state’s tax incentive programs indicating legislative intent regarding the type of jobs and industries that the programs are meant to encourage.

The bill specifies that the goal of the Nebraska Advantage Rural Development Act is to make tax structure revisions that encourage businesses to locate in rural Nebraska in order to decrease unemployment, create new jobs and increase investment.

LB836 also specifies that it is Nebraska state policy to encourage modernization of livestock facilities, increase research and development and create quality jobs – specifically those related to research and development, manufacturing and large data centers.

Finally, the bill adds language to the Angel Investment Tax Credit Act stating that it is state policy to encourage entrepreneurship and increase investment in high technology industries in underserved areas of Nebraska.

LB836 passed on a 42-0 vote.