{"id":21944,"date":"2017-04-24T10:37:50","date_gmt":"2017-04-24T16:37:50","guid":{"rendered":"http:\/\/update.legislature.ne.gov\/?p=21944"},"modified":"2017-04-24T10:37:50","modified_gmt":"2017-04-24T16:37:50","slug":"tax-credit-carry-over-extended","status":"publish","type":"post","link":"https:\/\/update.legislature.ne.gov\/?p=21944","title":{"rendered":"Tax credit carry-over extended"},"content":{"rendered":"<p>Businesses that make large capital investments in Nebraska can carry over unused tax credits for a much longer period under a bill passed April 24.<\/p>\n<figure id=\"attachment_20133\" aria-describedby=\"caption-attachment-20133\" style=\"width: 200px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"20133\" data-permalink=\"https:\/\/update.legislature.ne.gov\/?attachment_id=20133\" data-orig-file=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenFriesen_inline.jpg\" data-orig-size=\"297,445\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"senfriesen_inline\" data-image-description=\"&lt;p&gt;Sen. Curt Friesen&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Sen. Curt Friesen&lt;\/p&gt;\n\" data-large-file=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenFriesen_inline.jpg\" class=\"size-medium wp-image-20133\" src=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenFriesen_inline-200x300.jpg\" alt=\"Sen. Curt Friesen\" width=\"200\" height=\"300\" srcset=\"https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenFriesen_inline-200x300.jpg 200w, https:\/\/update.legislature.ne.gov\/wp-content\/uploads\/2017\/01\/SenFriesen_inline.jpg 297w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><figcaption id=\"caption-attachment-20133\" class=\"wp-caption-text\">Sen. Curt Friesen<\/figcaption><\/figure>\n<p>LB161, introduced by Sen. Curt Friesen of Henderson, extends the income tax credit carry-over period for companies that file a Tier 6 application under the Nebraska Advantage Act from one year to 16 years after the end of the entitlement period. The change applies to all Tier 6 project applications filed before, on or after the bill\u2019s effective date.<\/p>\n<p>The state Department of Revenue estimates that the bill would reduce state tax revenue by $1.8 million in fiscal year 2023-24 and another $1.89 million in FY2024-25.<\/p>\n<p>Tier 6 is meant to encourage companies to make significant capital investments and bring high-paying jobs to the state. To qualify for Tier 6 benefits, companies must invest $10 million and create 75 new jobs or invest $109 million and create 50 new jobs.<\/p>\n<p>The bill passed on a 44-2 vote.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Businesses that make large capital investments in Nebraska can carry over unused tax credits for a much longer period under a bill passed April 24.<\/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":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[17],"tags":[145],"class_list":["post-21944","post","type-post","status-publish","format-standard","hentry","category-revenue","tag-sen-curt-friesen"],"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\/21944","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=21944"}],"version-history":[{"count":1,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/21944\/revisions"}],"predecessor-version":[{"id":21945,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=\/wp\/v2\/posts\/21944\/revisions\/21945"}],"wp:attachment":[{"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/update.legislature.ne.gov\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}