Bill > LB170A

This bill appropriates funds to support property tax relief for school districts in Nebraska over two fiscal years. Specifically, the State Treasurer will transfer $100 million from the General Fund to the School District Property Tax Relief Credit Fund in both fiscal years 2025-26 and 2026-27, with the exact dates and transfer amounts to be directed by the budget administrator of the Department of Administrative Services. The Department of Revenue will receive these appropriations for Program 121, which is linked to Legislative Bill 170 from the 109th Legislature's First Session in 2025. The bill stipulates that the $100 million in Cash Funds for each fiscal year can only be used for state aid purposes, and explicitly prohibits using these funds for state employee salaries or per diems. The bill is marked as an emergency measure, meaning it will take effect immediately upon passage and approval, allowing for prompt implementation of the property tax relief funding.

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=62194