KIOS-FM

Nebraska lawmakers advance new business tax incentives

May 23, 2019

Credit https://www.fsp.org/lowering-your-nh-property-taxes-challenging-assessment-value/

Lawmakers have advanced a proposal to replace Nebraska's largest tax incentive for businesses with a newer program despite concerns from some who want to focus first on property taxes.

The bill won first-round approval yesterday on a 29-5 vote after supporters overcame a legislative filibuster.

The new tax credit program known as the ImagiNE Nebraska Act, would replace the Nebraska Advantage Act, the state's largest and most widely used tax credit program for businesses that is set to expire next year. Some lawmakers question whether the advantage act has been effective in creating high-paying jobs.

Some rural lawmakers reluctantly supported the measure but say they may fight it if the Legislature doesn't also advance a property tax measure.