This bill amends section 77-6204 of the Reissue Revised Statutes of Nebraska to modify the distribution of revenue from the nameplate capacity tax. The new provisions specify that the county treasurer must distribute all revenue received from the Department of Revenue as follows: five percent to the community college area where the renewable energy generation facility is located, and the remainder to local taxing entities that would have received personal property tax revenue from depreciable personal property used in generating electricity from renewable sources such as wind, solar, biomass, or landfill gas.

Additionally, the bill clarifies that a local taxing entity's eligibility for distribution will not be affected if the net book value of the relevant personal property becomes zero, but will be affected if all exempt depreciable personal property is disposed of. The calculation for distribution to each eligible local taxing entity is also revised to determine their share based on the taxes they levied compared to the total levied by all eligible entities. The bill also states that the Department of Revenue will not retain any revenue collected for distribution to the General Fund. The original section 77-6204 is repealed as part of this amendment.

Statutes affected:
Introduced: 77-6204