PARTS OF TAX-RELIEF PACKAGE START TAKING SHAPE

LINCOLN- The Nebraska Legislature’s Revenue Committee started shaping two of the six bills Wednesday that leaders say will contain the group’s broader tax-relief package. The committee spent much of the morning in an executive session combining tax credits, tax deductions and tax tweak proposals into Legislative Bills 937 and 1023.

That proposal from Revenue Chairwoman State Sen. Lou Ann Linehan of Omaha comes after Gov. Jim Pillen has discussed reducing sales tax exemptions to provide property tax relief. Most of the measures added to the committee bills were folded in unanimously. Albrecht’s received no votes from State Sens. George Dungan and Eliot Bostar, both of Lincoln.

Thus far, the proposal includes portions of Legislative Bills 606, 1158, 1184, 1400, and 1049. The committee started discussing the potential to reduce some separate tax incentives for businesses now that the state has cut income taxes. They said they needed more time to talk. The Committee spent the remainder of the week discussing plans to increase the state sales tax to offset property taxes.

For the full article click HERE