LINCOLN- While the legislature deals with a flurry of proposals aimed at offering relief to property owners, State Senator Eliot Bostar of Lincoln introduced Legislative Bill 14, which would assist renters. There were 12 letters of support for the bill, two of which publicly testified, and none in opposition. Under the bill, renters would be eligible for a refundable income tax credit of 5% of their lease expenses during the taxable year.

While the yearly cost is estimated at $153 million, Bostar suspects only 10% of the 260,000 renters in the state would take advantage of the credit at first. He says the idea stems from the belief that savings obtained by property owners due to Governor Jim Pillen's tax plan may not be passed down to renters. This bill can help offset the negative impact that renters would likely face under Pillen's plan.

Constituents have pointed to the rapidly growing eviction filings in the state to support their claim that the state is in crisis when it comes to affordable housing. As a result, the vacancy rate for apartments is below the ideal threshold. State Senator Terrell McKinney also introduced a bill focused on relieving renters of some of their financial burden.

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