LINCOLN- Gov. Jim Pillen signed a pair of income and property tax relief bills into law that he labeled “transformational” and “historic.” The governor signed LB243 and 754 in front of a crowd of supporters from multiple industries. The two measures, along with a third bill making changes to state school aid, are projected to cut or offset more than $6 billion worth of property taxes and income taxes over the next six years.

Pillen claims the new laws will make the state more competitive with other states all while improving life for the daily Nebraskan. “The two bills truly are transformational,” he said. “These bills provide billions, billions — I like to call it bushel baskets and bushel baskets and bushel baskets — of property tax relief, business income tax relief and personal income tax relief.”

LB243 is expected to aid $1.76 billion over six years. LB754 is expected to be about $3.3 billion in changes over six years. LB683 will double the state aid for special education and guarantee $1,500 of state support for every public school student. Gov. Pillen thanked Sens. Linehan, Briese, and Sanders for being instrumental in the tax work this session.

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