Bill > LB1109

This bill modifies several tax provisions in Nebraska, primarily by eliminating certain sales and use tax exemptions and a renewable energy tax credit, while also adjusting rules related to the Nebraska Advantage Research and Development Act and the ImagiNE Nebraska Act. Specifically, it removes exemptions for certain purchases by nonprofit organizations, including those related to property transfers for construction projects, and also removes an exemption for mineral oil used as a dust suppressant. The bill also repeals a renewable energy tax credit for electricity generated by new renewable electric generation facilities, though it maintains a reduced credit rate until July 1, 2026. Additionally, it clarifies how tax credits under the Nebraska Advantage Research and Development Act can be used, allowing them to be applied against income tax liability or used for a refund of sales and use taxes paid. Finally, the bill redefines "processing" under the ImagiNE Nebraska Act, which is a program designed to attract businesses to the state, by removing waste treatment and disposal from the list of qualifying activities. The operative date for these changes is July 1, 2026, with an emergency clause allowing it to take effect upon passage.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=63418