This bill amends several sections of the Nebraska Revised Statutes to enhance the disclosure of tax information to municipalities, particularly those that have adopted a local option sales tax. It allows the Tax Commissioner to provide municipalities with a list of retailers who have collected this tax, along with additional requested information, while ensuring that specific details about individual businesses' revenue, expenses, or operations remain confidential. Municipalities can make such requests up to three times a year, and they can also request confidential sales and use tax returns, which the Department of Revenue must prepare within ten business days. The bill emphasizes the confidentiality of taxpayer information and outlines the responsibilities of certified individuals representing municipalities, who may only disclose information for specific purposes, with violations classified as a Class I misdemeanor.

Additionally, the bill introduces amendments related to the collection and retention of personally identifiable information (PII) by the state, requiring public notification of PII practices, proper disposal of unnecessary PII, and granting individuals access to their information. It also modifies procedures for tax refunds owed to municipalities, particularly under the ImagiNE Nebraska Act and the Urban Redevelopment Act, by mandating notifications for refunds exceeding $1,500 and requiring qualifying businesses to provide municipalities with annual aggregate data on local sales and use tax refunds. Furthermore, the bill establishes conditions for direct payment permits and tax credits for specific projects, including a tiered credit system based on employee wages, and sets eligibility criteria for property tax exemptions. Overall, the bill aims to promote transparency, accountability, and investment in Nebraska while ensuring compliance with disclosure requirements.

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