Telecommunications occupation taxes restricted

Members of the Legislature approved a bill May 12 to cap telecommunications occupation taxes and restrict their application to telecommunications services.

LB165, introduced by Valentine Sen. Deb Fischer, will restrict telecommunications occupation taxes to telecommunications services and cap the tax rate at 6.25 percent, unless city voters approve a 0.25 percent increase.

The bill has an effective date of Jan. 1, 2013.

The bill passed on a 42-1 vote.