Bill > LB718

This bill modifies the requirements for becoming and practicing as a Certified Public Accountant (CPA) in Nebraska, aiming to modernize and streamline existing regulations. Key changes include adjusting the educational and experience requirements for obtaining a CPA certificate and permit, with a focus on a baccalaureate degree and specific credit hours in accounting and related subjects, and a defined period of supervised experience. It also updates provisions for CPAs credentialed in other states, allowing for reciprocal certificates with fewer hurdles if certain experience and examination standards are met, and clarifies "practice privileges" for out-of-state CPAs, meaning they can practice in Nebraska without a Nebraska permit under specific conditions, provided their home state license is active and they meet initial licensing standards. Furthermore, the bill revises the grounds and actions the state board can take in disciplinary proceedings against CPAs, including clarifying when a revocation order is considered non-disciplinary. Obsolete provisions and a specific section related to permits are also repealed.

Business and Industry

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=62654