This bill amends several sections of the Reissue Revised Statutes of Nebraska related to motor vehicle taxes and fees. It changes the percentage of fees retained by county treasurers from one percent to two percent and modifies the allocation of motor vehicle tax proceeds among counties, local school systems, and municipalities. Specifically, it increases the percentage allocated to counties from 22% to 40%, to local school systems from 60% to 37%, and to cities or villages from 18% to 23%. Additionally, it introduces new motor vehicle tax schedules that adjust the tax rates based on the age of the vehicle, with significant reductions for older vehicles.

The bill also revises the motor vehicle fee structure, increasing fees for various vehicle categories, such as automobiles and trucks, while establishing a new fee for vehicles valued at $20,000 or more. The base fees for different vehicle types are updated, with the fee for automobiles valued under $20,000 increasing from $5 to $20, and the fee for trucks over seven tons increasing from $30 to $60, plus an additional $2 for each ton over seven tons. The act is set to become operative on January 1, 2026, and repeals the original sections of the statutes that are being amended.