Bill > LB747

This bill provides an income tax credit for renters and changes provisions relating to a property tax credit. Specifically, it creates a refundable income tax credit for individuals who rent their primary residence in Nebraska, equal to the greater of 4% of the total rent paid or $200, up to $1,000. Additionally, the bill adjusts the minimum amount of relief granted under the Property Tax Credit Act, reducing it from $275 million to $200 million per tax year starting in 2023.