summary
Introduced
01/22/2025
01/22/2025
In Committee
01/24/2025
01/24/2025
Crossed Over
Passed
Dead
Introduced Session
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to revenue and taxation; to amend sections 77-2701.02 and 77-27,132, Revised Statutes Cumulative Supplement, 2024; to change the sales and use tax rate; to harmonize provisions; to provide an operative date; and to repeal the original sections.
AI Summary
This bill proposes changes to the sales and use tax rate in Nebraska, modifying two existing statutes related to tax rates and revenue distribution. The bill extends the current sales tax rate of 5.5% until July 1, 2026, and introduces a placeholder for a potential future tax rate (marked as "XX" percent) starting July 1, 2026. It maintains a reduced tax rate of 2.75% for transactions within specific "good life districts" located in cities or villages. Additionally, the bill updates the Revenue Distribution Fund provisions, including how sales tax proceeds from certain vehicle and equipment sales will be allocated to various state funds like the Highway Trust Fund, Highway Allocation Fund, and Game and Parks Commission Capital Maintenance Fund. The bill specifies that it will become operative on July 1, 2026, and will repeal the original sections of the statutes it amends. The changes appear to be part of ongoing adjustments to Nebraska's tax structure and revenue allocation mechanisms.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue Committee (L)
Last Action
Revenue Hearing (13:30:00 3/26/2025 Room 1524) (on 03/26/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59696 |
| Fiscal Note for LB648 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB648_20250325-105858.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB648.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB648.pdf |
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