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Bill > LB748
NE LB748
NE LB748Change provisions relating to the Nebraska educational savings plan trust and allow for the use of trust funds for recognized postsecondary credential programs
summary
Introduced
01/07/2026
01/07/2026
In Committee
01/09/2026
01/09/2026
Crossed Over
02/10/2026
02/10/2026
Passed
02/20/2026
02/20/2026
Dead
Introduced Session
Potential new amendment
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to revenue and taxation; to amend sections 77-1416, 77-1417, 77-1419, 77-1420, 77-1422, and 77-1427, Revised Statutes Supplement, 2025; to define and redefine terms; to change provisions relating to the Nebraska educational savings plan trust and allow for the use of trust funds for recognized postsecondary credential programs as prescribed; to harmonize provisions; and to repeal the original sections.
AI Summary
This bill modifies the Nebraska educational savings plan trust, also known as a 529 plan, to allow funds to be used for recognized postsecondary credential programs, which are defined as programs described in section 529(f)(2) of the Internal Revenue Code. This expansion means that money saved in the trust can now be used for these specific programs in addition to traditional college or university expenses, and for qualified education loan payments for beneficiaries or their siblings, with certain limitations. The bill also clarifies definitions related to the trust, such as "qualified education expenses" to include these credential programs, and updates provisions regarding the administration and use of trust funds to reflect these changes, while also repealing the original sections of law that are being amended.
Committee Categories
Education
Sponsors (1)
Last Action
Advanced to Enrollment and Review for Engrossment (on 02/20/2026)
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=62734 |
| Analysis - Committee Statement | https://nebraskalegislature.gov/FloorDocs/109/PDF/CS/LB748.pdf |
| Fiscal Note for LB748 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB748_20260116-133049.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB748.pdf |
| Kauth FA377 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA377.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB748.pdf |
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