Adopted tax code adjustments include land donations, natural gas

Senators passed a bill March 31 that makes several technical changes to the state tax code regarding auto museums, sports arenas, bullion and postage.

Currently, only a municipal employee is authorized to access sales and use tax information of permit holders within city limits. LB867, introduced by Kearney Sen. Galen Hadley, broadens the law to include any person certified by the municipality seeking the information. Confidentiality provisions already in statute still bind the certified person, who could include a financial or accounting contractor.

LB867 incorporates the provisions of several additional bills, including:
• LB159, originally introduced by Columbus Sen. Paul Schumacher, which exempts the sale, lease or rental of currency or bullion from sales and use taxes;
• LB783, originally introduced by Omaha Sen. Steve Lathrop, which changes the annual determination and certification of sales tax revenue under the Sports Arena Financing Act to a quarterly determination and certification;
• LB809, originally introduced by Lincoln Sen. Colby Coash, which exempts purchases made by historic automobile museums from sales and use taxes;
• LB829, also introduced by Schumacher, which exempts separately stated postage charges from sales and use taxes; and
• LB1043, originally introduced by Omaha Sen. John Nelson, which exempts from the documentary stamp tax charitable donations of land to nonprofits.

Provisions of LB150, originally introduced by Omaha Sen. Jeremy Nordquist, also are incorporated into the bill. Currently, the Metropolitan Utilities District (MUD) remits the equivalent of 2 percent of the annual gross revenue derived from all retail sales of water and gas sold by MUD to Omaha. The provision exempts from the calculation the retail sale of natural gas used as vehicular fuel and the energy used in the compression of natural gas for sale as vehicular fuel.

Senators passed the bill on a 49-0 vote.