Bill > LB479

This bill modifies the distribution of sales and use tax revenue in Nebraska by making several key changes to the existing Revenue Distribution Fund statute. Specifically, the bill adjusts the allocation of sales tax proceeds from certain vehicle and equipment sales, changing the effective date of some existing provisions from July 1, 2024 to October 1, 2025. For sales of motorboats, personal watercraft, all-terrain vehicles, and utility-type vehicles, the bill now requires that after July 1, 2024, a portion of the sales tax proceeds will be transferred to the Nebraska Emergency Medical System Operations Fund in addition to the Game and Parks Commission Capital Maintenance Fund. The bill also modifies the allocation of sales tax proceeds from a one-half percent tax rate, directing 85% to the Highway Trust Fund and 15% to the Highway Allocation Fund starting October 1, 2025, instead of the previous date. These changes are part of the ongoing management of state tax revenue, ensuring that funds are distributed to specific state programs and infrastructure needs in a manner that supports various state initiatives and services.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59638