Senators passed a bill May 21 that requires regular evaluation of the state\u2019s tax incentive programs.<\/p>\n
LB538, introduced by the Performance Audit Committee, creates an ongoing evaluation process for all current and future tax incentive programs enacted for the purpose of recruiting or retaining businesses in Nebraska.<\/p>\n
The Legislature\u2019s Performance Audit Office will develop and publish a schedule for conducting the evaluations, ensuring that each program is reviewed at least once every three years.<\/p>\n
Each evaluation of a tax incentive program will analyze program-specific goals and economic and fiscal impacts of the program and recommend changes to evaluation procedures that will allow for easier evaluation in the future.<\/p>\n
Eight current programs also will be evaluated under LB538, including the:
\n\u2022 Angel Investment Tax Credit Act;
\n\u2022 Beginning Farmer Tax Credit Act;
\n\u2022 Nebraska Advantage Act;
\n\u2022 Nebraska Advantage Microenterprise Tax Credit Act;
\n\u2022 Nebraska Advantage Research and Development Act;
\n\u2022 Nebraska Advantage Rural Development Act;
\n\u2022 Nebraska Job Creation and Mainstreet Revitalization Act; and
\n\u2022 New Markets Job Growth Investment Act.<\/p>\n
The bill establishes a sunset date of Dec. 31, 2019, for certain incentives under the Nebraska Advantage Act, Nebraska Advantage Rural Development Act and the New Markets Job Growth Investment Act.<\/p>\n
The bill passed on a 46-0 vote.<\/p>\n","protected":false},"excerpt":{"rendered":"
Senators passed a bill May 21 that requires regular evaluation of the state\u2019s tax incentive programs. LB538, introduced by the<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[],"class_list":["post-17560","post","type-post","status-publish","format-standard","hentry","category-revenue"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/17560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17560"}],"version-history":[{"count":1,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/17560\/revisions"}],"predecessor-version":[{"id":17561,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/17560\/revisions\/17561"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}