Bill > LB50

This bill modifies the distribution of the nameplate capacity tax for renewable energy generation facilities in Nebraska. Currently, when renewable energy facilities (using wind, solar, biomass, or landfill gas) are exempt from personal property tax, the revenue is distributed to local taxing entities that would have received personal property tax revenue. The bill changes this distribution method by first allocating 5% of the revenue to the community college area where the renewable energy facility is located, and then distributing the remaining 95% to eligible local taxing entities. The distribution to each local taxing entity will be calculated based on the proportion of taxes they levied during the year. The bill maintains that a local taxing entity's eligibility for distribution remains unchanged even if the net book value of the renewable energy property becomes zero, but will be affected if all of the exempt property is disposed of. The legislation also reinforces that the Department of Revenue cannot retain any revenue collected under these provisions for use in the General Fund.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=58843