Statewide occupation tax reporting requirement approved

Lawmakers passed a bill April 29 that requires all Nebraska cities to report the impact of occupation taxes.

<a href='http://news.legislature.ne.gov/dist05' target='_blank' title='Link to the website of Sen. Mike McDonnell'>Sen. Mike McDonnell</a>
Sen. Mike McDonnell

LB445, sponsored by Sen. Mike McDonnell of Omaha, requires cities to produce an annual report detailing:
• the purpose of the occupation tax;
• any special project designation;
• the amount of tax dollars collected;
• how the money was spent or is budgeted to be spent; and
• the scheduled or projected end date of the tax.

The mandated report will be made available for public inspection on a municipality’s website or other location no later than 90 days after the end of the municipality’s fiscal year.

LB445 passed on a 42-0 vote.

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