Lawmakers pass NRD property tax extension and SID bond provision

Select natural resources districts will have more time to levy a special property tax under a bill passed by the Legislature May 25.

LB400, amended to contain provisions introduced by Holdrege Sen. Tom Carlson, extends to fiscal year 2017-18 the sunset date for a property tax offered to NRDs in overappropriated or fully appropriated basins. The 3-cent per $100 of taxable value property tax is used for costs of administering and implementing ground water management activities and integrated management activities under the Nebraska Ground Water Management and Protection Act that exceed the amount budgeted for such activities in FY2005-06.

The bill also changes state statute governing property tax levies and exceptions, specifically a subsection addressing bonds secured by a property tax levy. The bill replaces bonded indebtedness with a definition of bonds that includes any bonds, notes, interim certificates, evidences of bond ownership, bond anticipation notes, warrants or other evidence of indebtedness.

Lawmakers passed LB400 on a 47-1 vote.

Bookmark and Share