The proposed bill amends various sections of the Nebraska Revised Statutes to redefine terms related to budget limitations and modify the Property Tax Growth Limitation Act. Key changes include the redefinition of "allowable growth" to include factors such as improvements to real property, changes in property use, and increases in personal property valuation. The bill also introduces provisions that permit political subdivisions to increase their property tax request authority based on specific criteria, including budgeted amounts for public safety services and substance abuse prevention. Additionally, it allows for the carryover of unused property tax request authority to future budget years, capped at five percent of the previous year's total authority.

Moreover, the bill revises the authority of city councils in metropolitan and primary class cities to levy occupation taxes, ensuring uniform application and exempting certain transactions from taxation. It mandates that municipalities imposing new occupation taxes or increasing existing rates provide annual reports on the collection and use of these taxes. The legislation also establishes a framework for property tax relief for school districts, detailing the disbursement of funds to counties based on school district taxes levied, with a gradual increase in tax relief amounts over the coming years. Overall, the bill aims to enhance flexibility and transparency in property tax management while ensuring local governments can adequately fund essential services.

Statutes affected:
Introduced: 13-518, 13-3403, 13-3404, 13-3405, 13-3406, 14-109, 15-202, 15-203, 16-205, 17-525, 18-1208, 77-1701, 77-7305