Bill
Bill > LB757
NE LB757
NE LB757Provide a sales and use tax exemption for the purchase of an aircraft to be leased between related companies
summary
Introduced
01/07/2026
01/07/2026
In Committee
01/09/2026
01/09/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to revenue and taxation; to amend section 77-2704.28, Reissue Revised Statutes of Nebraska; to provide a sales and use tax exemption for the purchase of an aircraft to be leased between related companies; to provide an operative date; and to repeal the original section.
AI Summary
This bill amends Nebraska law to create a sales and use tax exemption for the purchase of an aircraft that will be leased between related companies, such as a subsidiary leasing to its parent company, or between sister companies. The exemption applies if the annual gross receipts from leasing the aircraft are at least seven and five-tenths percent (7.5%) of the aircraft's net acquisition price, and if sales tax is collected and paid on the lease payments. This change is intended to provide tax relief for specific aircraft leasing arrangements within corporate structures and becomes effective on October 1, 2026, repealing the original law.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Revenue Hearing (13:30:00 1/22/2026 Room 1524) (on 01/22/2026)
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=62942 |
| Fiscal Note for LB757 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB757_20260121-123747.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB757.pdf |
| Kauth FA386 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA386.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB757.pdf |
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