The Revenue Committee advanced bills this session that update the state’s tax code to reflect federal changes, expand a tax credit for volunteer emergency responders and index for inflation the thresholds used when calculating the income tax liability of Nebraskans who receive Social Security benefits.
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Lawmakers debated a proposal April 6 to provide a minimum amount of state aid to each public school district. A pending amendment would replace the bill and raise the state sales tax rate in order to fund additional school aid and property tax credits.
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Lawmakers debated a proposal April 3 to provide income tax credits that partially offset the amount that Nebraskans pay in property taxes.
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The Revenue Committee heard testimony Jan. 31 on a proposal to cut the state’s top individual and corporate income tax rates and to provide credits on property taxes paid.
Read MoreSenators introduced 38 new bills on Jan. 10.
These included:
LB947, sponsored by Papillion Sen. Jim Smith, which would adopt the Nebraska Property Tax Cuts and Opportunities Act, change income tax rates and eliminate certain exemptions and credits;
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