LB64 LB64
2024 2024
LEGISLATURE OF NEBRASKA
ONE HUNDRED EIGHTH LEGISLATURE
FIRST SPECIAL SESSION
LEGISLATIVE BILL 64
Introduced by Wayne, 13.
Read first time July 29, 2024
Committee: Revenue
1 A BILL FOR AN ACT relating to revenue and taxation; to state legislative
2 intent relating to tax credits, local option sales taxes, and a
3 property tax relief program.
4 Be it enacted by the people of the State of Nebraska,
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LB64 LB64
2024 2024
1 Section 1. It is the intent of the Legislature to:
2 (1) Reform the credits provided in the Property Tax Credit Act;
3 (2) Reform the credits provided in the Nebraska Property Tax
4 Incentive Act;
5 (3) Amend section 77-27,142 and related sections to allow for the
6 redistribution of local option sales taxes; and
7 (4) Establish a property tax relief program, which may include
8 modifications to state educational aid or the creation of tax credits, to
9 reduce property tax revenue collected for schools and take any steps
10 necessary to ensure that any such program which requires a constitutional
11 amendment be printed on the November 2024 ballot, or as soon as possible
12 thereafter.
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