The bill also specifies both minimum wages for new employees and minimum new investments in plants and equipment. Qualifying businesses must be primarily engaged in manufacturing, warehousing, transportation, research and development, financial services, insurance, telecommunications, data processing or administration. The long-term hope is that producers might be paid for sequestering carbon dioxide, a greenhouse gas that contributes to global warming. Sequestering occurs through good cultural practices, such as minimum tillage. Of more limited scope, LB 1010 establishes a minimum price on agricultural land held by the Nebraska Board of Educational Lands and Funds.
School land is located mostly in the western half of the state.
The bill presumably would make more school land available to interested buyers. In simplest terms, LB 1124 provides for a study of agricultural land valuations. Such valuations are a key factor in determining property tax obligations. Ultimately, the bill aims at valuing land for its agricultural use, not what it may be worth for recreation or other non-ag uses. The first focuses on ethanol pricing.