LB1137 LB1137
2024 2024
LEGISLATURE OF NEBRASKA
ONE HUNDRED EIGHTH LEGISLATURE
SECOND SESSION
LEGISLATIVE BILL 1137
Introduced by McKinney, 11.
Read first time January 11, 2024
Committee: Revenue
1 A BILL FOR AN ACT relating to cities and villages; to amend sections
2 18-1201 and 18-1202, Reissue Revised Statutes of Nebraska; to change
3 the rate of tax authorized for certain public safety purposes; and
4 to repeal the original sections.
5 Be it enacted by the people of the State of Nebraska,
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1 Section 1. Section 18-1201, Reissue Revised Statutes of Nebraska, is
2 amended to read:
3 18-1201 All cities and villages in the State of Nebraska may levy a
4 special tax each year of not more than XXX five cents on each one hundred
5 dollars upon the taxable value of all the taxable property in such city
6 or village for the special purposes set forth in this section. Such
7 special levy shall be made by the same officers or board and be levied in
8 the same manner as general city or village taxes. Revenue raised by such
9 a special levy may be used for purchasing and maintaining public safety
10 equipment, including, but not limited to, vehicles or rescue or emergency
11 first-aid equipment for a fire or police department of such city or
12 village, for purchasing real estate for fire or police station quarters
13 or facilities, for erecting, building, altering, or repairing fire or
14 police station quarters or facilities, for purchasing, installing, and
15 equipping an emergency alarm or communication system, or for paying off
16 bonds authorized by section 18-1202. Such revenue may be accumulated in a
17 sinking fund or sinking funds to be used for any such purpose.
18 Sec. 2. Section 18-1202, Reissue Revised Statutes of Nebraska, is
19 amended to read:
20 18-1202 Any city or village which has levied or intends to levy a
21 tax as authorized by section 18-1201 for the purposes stated in such
22 section may anticipate the collection of such taxes, including the
23 anticipation of collections from levies to be made in future years, and
24 for such purpose may issue tax anticipation bonds which shall be payable
25 in not exceeding twenty years and may bear interest, payable annually or
26 semiannually, at such rate or rates as the mayor and city council or
27 chairperson and village board of trustees may determine. The total of
28 principal and interest payable on such bonds in any calendar year shall
29 not exceed ninety percent of the anticipated tax collection for such
30 calendar year on the assumption that the taxable valuation for such city
31 or village in all succeeding years shall be the same as the taxable
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1 valuation most recently determined prior to passage of the ordinance
2 authorizing such bonds and applying the tax levy made or agreed to be
3 made by the city or village, but not exceeding XXX five cents on each one
4 hundred dollars, and using tax due and delinquency dates in effect at the
5 time of passage of the bond ordinance. The city or village may agree in
6 such bond ordinance to make and to continue to make a levy under section
7 18-1201 until such bonds and interest thereon are fully paid. Such bonds
8 shall be secured by such tax so assessed and levied and shall be payable
9 only out of the funds derived from such tax. It shall be the duty of such
10 city or village on receipt of such taxes to hold the same as a separate
11 fund to the amount of the bonds so issued and the interest thereon for
12 the purpose of paying or redeeming such bonds.
13 Sec. 3. Original sections 18-1201 and 18-1202, Reissue Revised
14 Statutes of Nebraska, are repealed.
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Statutes affected:
Introduced: 18-1201, 18-1202