This legislative bill amends various sections of the Nebraska Revised Statutes to improve the disclosure of tax information to municipalities while safeguarding sensitive business data. It permits the Tax Commissioner to provide municipalities with a list of retailers that have collected local option sales tax, along with any additional requested information, excluding specific revenue, expenses, or operational details of individual businesses. The bill limits municipalities to three requests per year for this information, streamlining access. Additionally, it allows municipalities to request confidential sales and use tax returns and related taxpayer information, which can be received electronically by a certified individual, emphasizing the importance of confidentiality and establishing penalties for violations.

The bill also revises procedures for tax refunds owed to municipalities, particularly concerning the ImagiNE Nebraska Act and the Urban Redevelopment Act, requiring notification for pending refunds over $1,500 and outlining timelines for deductions. It mandates that qualifying businesses provide municipalities with annual aggregate data on local sales and use tax refunds and estimates for future claims. Furthermore, the bill introduces amendments regarding direct payment permits and tax credits for specific projects, establishing compliance with data disclosure requirements and a tiered credit system based on employee wages. It also sets eligibility criteria for property tax exemptions and repeals outdated sections of the Revised Statutes Cumulative Supplement, aiming to incentivize investment and employment in Nebraska while ensuring transparency and compliance with disclosure requirements.

Statutes affected:
Introduced: 77-2711, 77-5725