The Defense Efforts Workforce Act is designed to encourage employers to establish their workforce in Nebraska to support military defense initiatives and improve global defense communications and technologies. The bill defines "qualified employers" and "qualified employees," setting criteria for employment levels, wage standards, and work eligibility verification. Employers meeting these criteria can apply for wage credits based on a percentage of total compensation paid to qualified employees, with a cap on the total credits available. The application process includes a nonrefundable fee and confidentiality provisions, while also outlining the recapture of wage credits if employers do not maintain the required standards.

Additionally, the bill introduces new reporting requirements for taxpayer agreements related to the credits utilized. It mandates an annual report detailing agreements from the previous calendar year, those still in effect, and the identities of the taxpayers involved, along with total credits used every two years. The act emphasizes that no information protected by state or federal confidentiality laws will be disclosed in these reports. Set to become operative on July 1, 2027, the initiative aims to enhance transparency and accountability in tax credit usage while ensuring compliance with confidentiality regulations.

Statutes affected:
Introduced: 77-2715.03