This legislative bill proposes significant amendments to Nebraska's revenue and taxation laws, particularly concerning sales and use taxes, school district levy limitations, and the establishment of new funds for educational support. Key changes include the insertion of language that mandates a separate listing for each item in various tax expenditure categories and the deletion of specific items from these categories. The bill broadens the definition of "gross receipts" to include income from services, which are presumed taxable unless a specific exemption applies. It also repeals the School District Property Tax Relief Act and introduces the New School Relief Fund to provide additional foundation aid under the Tax Equity and Educational Opportunities Support Act.

Furthermore, the bill establishes temporary exemptions from sales and use taxes on various goods and services until January 1, 2027, including agricultural products, health services, and certain purchases by nonprofit organizations. It modifies existing tax levy regulations for school districts, allowing for increased levies under specific conditions and introducing a tiered system for property tax requests based on student enrollment. The bill aims to enhance funding mechanisms for education and community development while ensuring clarity in tax obligations and compliance. Overall, these amendments are designed to promote economic growth and provide financial relief to various sectors in Nebraska.

Statutes affected:
Introduced: 2-2701, 77-382, 77-2701, 77-2701.04, 77-2701.16, 77-2701.24, 77-2701.32, 77-2701.36, 77-2703, 77-2703.01, 77-2704.03, 77-2704.04, 77-2704.05, 77-2704.07, 77-2704.10, 77-2704.12, 77-2704.13, 77-2704.14, 77-2704.15, 77-2704.16, 77-2704.17, 77-2704.20, 77-2704.22, 77-2704.23, 77-2704.24, 77-2704.25, 77-2704.26, 77-2704.27, 77-2704.28, 77-2704.30, 77-2704.36, 77-2704.38, 77-2704.39, 77-2704.40, 77-2704.41, 77-2704.42, 77-2704.45, 77-2704.46, 77-2704.47, 77-2704.48, 77-2704.50, 77-2704.51, 77-2704.52, 77-2704.53, 77-2704.56, 77-2704.57, 77-2704.58, 77-2704.60, 77-2704.61, 77-2704.62, 77-2704.63, 77-2704.64, 77-2704.65, 77-2704.67, 77-2704.68, 77-2704.69, 77-2706, 77-2706.02, 77-3442, 77-4403, 77-4405, 77-4602, 77-7304, 77-7305, 79-1006, 79-3405