summary
Introduced
01/08/2026
01/08/2026
In Committee
01/12/2026
01/12/2026
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 77-2716.01, Revised Statutes Cumulative Supplement, 2024; to change provisions relating to individual income tax deductions; and to repeal the original section.
AI Summary
This bill amends Nebraska's tax law concerning individual income tax deductions, specifically focusing on itemized deductions. For taxable years beginning before January 1, 2026, individuals who itemize deductions on their federal tax return can subtract the greater of their standard deduction or their federal itemized deductions from their adjusted gross income, with an exception for state and local income taxes. However, for taxable years beginning on or after January 1, 2026, this bill modifies the treatment of state and local income taxes for those who itemize, limiting the deduction to an amount not exceeding a specific limitation set for taxable years after 2029, as defined by a particular section of the Internal Revenue Code. The bill also repeals the original section of law it is amending.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Revenue Hearing (13:30:00 2/19/2026 Room 1524) (on 02/19/2026)
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=63097 |
| Fiscal Note for LB846 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB846_20260218-125240.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB846.pdf |
| Kauth FA486 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA486.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB846.pdf |
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