Bill > LB242

This bill amends the Nebraska Property Tax Incentive Act to redefine the "allowable growth percentage" and change provisions related to the amount of tax credits for school district taxes. Specifically, the bill increases the maximum total amount of tax credits that can be claimed each year, starting with $1 billion in 2024 and growing by the allowable growth percentage thereafter. The bill also allows certain types of businesses, such as S-corporations and partnerships, to claim the tax credit directly rather than allocating it to their owners or members.