Among the proposals advanced by the Revenue Committee this session is a package of bills that cut individual and corporate income tax rates, speed up the phaseout of state taxation of Social Security income and expand a program intended to offset property taxes used to fund education.
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Senators rejected a second attempt to advance a bill from general file that would create a tax credit scholarship program for Nebraska private school students after a failed cloture motion Jan. 12.
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The Revenue Committee advanced bills this session that cut Nebraska’s top corporate income tax rate and will exempt military retirement pay and a percentage of Social Security income from state income tax.
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A bill that would create a tax credit scholarship program for private school students stalled on general file April 28 after a failed cloture motion.
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Individuals and businesses could claim a state income tax credit for contributions they make to nonprofit organizations that grant scholarships to students who attend private schools under a bill heard Jan. 28 by the Revenue Committee.
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