This bill amends section 77-1229 of the Revised Statutes Cumulative Supplement, 2024, concerning the listing and valuation of taxable tangible personal property in Nebraska. The amendment changes the language from "Every person" to "All persons" required to list and value such property, ensuring inclusivity in the language used. It mandates that individuals must complete and file the prescribed forms with the county assessor by May 1 each year, and those seeking personal property exemptions under specific acts must also file the necessary forms by the same deadline to avoid forfeiture of the exemption.

Additionally, the bill stipulates that if a taxpayer seeking an exemption has taxable tangible personal property, they must list and value that property as required. The original section 77-1229 is repealed, indicating that the new language will replace the previous provisions entirely. This legislative change aims to streamline the process and clarify the responsibilities of individuals regarding the reporting of tangible personal property for tax purposes.

Statutes affected:
Introduced: 77-1229