The resolution proposes an interim study to assess the fiscal, constitutional, and administrative implications of adopting significant reforms to Nebraska's property tax system, as outlined in Legislative Resolution 12CA, One Hundred Ninth Legislature, First Session, 2025, with proposed amendment AM1101. The study will focus on various aspects, including the potential impacts of capping annual property tax increases, the legal ramifications of changing constitutional language regarding property valuation, and the practical challenges of implementing a static assessed value system. Additionally, it will evaluate taxpayer equity, revenue predictability for local governments, and the implications for housing affordability and agricultural producers.

The Revenue Committee of the Nebraska Legislature is tasked with conducting this study, which will involve consultations with legal experts, tax policy professionals, and relevant stakeholders to ensure a thorough evaluation of the proposed reforms. Upon completion, the committee is required to report its findings and recommendations to the Legislative Council or the Legislature, providing a comprehensive overview of the potential effects of the proposed changes to the property tax system.