reglab/housing_qa huggingface dataset:
NE Code § 77-5506 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5506 - Base year, defined.

77-5506.  Base year, defined.Base year means the year immediately preceding the year in which the start date occurs.Source Laws 2001, LB 620, § 6.
NE Code § 77-5507 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5507 - Base-year employee, defined.

77-5507.  Base-year employee, defined.Base-year employee means any individual who was employed in Nebraska and subject to the Nebraska income tax on compensation received from the company or its predecessors during the base year and who is employed at the project.Source Laws 2001, LB 620, § 7.
NE Code § 77-5508 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5508 - Board, defined.

77-5508.  Board, defined.Board means the Invest Nebraska Board, which shall consist of the Governor, the State Treasurer, and the chairperson of the Nebraska Investment Council.Source Laws 2001, LB 620, § 8.
NE Code § 77-5509 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5509 - Company, defined.

77-5509.  Company, defined.Company means (1) any person subject to sales and use taxes and either the income tax imposed by the Nebraska Revenue Act of 1967 or the franchise tax under sections 77-3801 to 77-3807, (2) any corporation, partnership, limited liability company, or joint venture that is or would otherwise be a member of the same unitary group, if incorporated, which is, or whose partners, members, or owners are, subject to such taxes, and any other partnership, limited liability company, subchapter S corporation, or joint venture when the partners, owners, shareholders, or members are subject to such taxes, (3) any cooperative exempt from such taxes under section 521 of the Internal Revenue Code of 1986, as amended, and (4) any limited cooperative association.Source  Laws 2001, LB 620, § 9;  Laws 2007, LB368, § 138. Cross References  Nebraska Revenue Act of 1967, see section 77-2701.
NE Code § 77-5510 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5510 - Company training program, defined.

77-5510.  Company training program, defined.Company training program means any program developed or operated by or for the benefit of the company which screens, trains, or educates recruits, potential employees, or actual employees of the company, or any combination thereof, in order to enable the recruits or employees to perform employment activities at the project and includes recruitment, screening, customized training, job-specific training, on-the-job training, and generalized training programs.Source Laws 2001, LB 620, § 10.
NE Code § 77-5511 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5511 - Company workplace safety program, defined.

77-5511.  Company workplace safety program, defined.Company workplace safety program means any program used by the company to further the workplace safety of employees employed at the project.Source Laws 2001, LB 620, § 11.
NE Code § 77-5512 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5512 - Compensation, defined.

77-5512.  Compensation, defined.Compensation means the wages and other payments subject to withholding for federal income tax purposes.Source Laws 2001, LB 620, § 12.
NE Code § 77-5513 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5513 - Educational institution training program, defined.

77-5513.  Educational institution training program, defined.Educational institution training program means any training program established by or conducted by any public or private educational institution that provides training or education for recruits, potential employees, or actual employees of the company, or any combination thereof, with regard to employment or potential employment at the project.Source Laws 2001, LB 620, § 13.
NE Code § 77-5514 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5514 - Employee, defined.

77-5514.  Employee, defined.Employee means a person employed at the project. An employee of a qualified employee leasing company shall be deemed to be an employee of the client-lessee if the employee performs services for the client-lessee. A qualified employee leasing company shall provide the Department of Revenue access to the records of employees leased to the client-lessee.Source Laws 2001, LB 620, § 14.
NE Code § 77-5515 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5515 - Employee benefit program, defined.

77-5515.  Employee benefit program, defined.Employee benefit program means health and dental benefits, dependent care, life insurance, disability insurance, or relocation costs provided to or for the benefit of employees, which programs are qualified under the Internal Revenue Code of 1986, as amended.Source Laws 2001, LB 620, § 15.
NE Code § 77-5516 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5516 - Entitlement period, defined.

77-5516.  Entitlement period, defined.(1) Entitlement period is ten years, meaning the year during which the required increases in employment and investment were met or exceeded or that meets the conditions in subsection (2) of this section and the next one hundred eight months.(2) Solely for the purpose of determining the first year of the entitlement period, if before the end of a year a company has reached the required level of new investment and has created the number of new jobs at the project equal to at least the applicable required level of new employment, but has not yet reached the required number of new employees because such employees have not been employed at the project yet for a full year, then the company may elect on its tax return for such year to be considered to have met the required levels of employment and investment during such year.Source Laws 2001, LB 620, § 16.
NE Code § 77-5517 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5517 - Equivalent employees, defined.

77-5517.  Equivalent employees, defined.Equivalent employees means the number of employees computed by dividing the total hours paid in a year by the product of forty times the number of weeks in a year.Source Laws 2001, LB 620, § 17.
NE Code § 77-5518 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5518 - Genetic information, defined.

77-5518.  Genetic information, defined.Genetic information means information about a gene, gene product, or inherited characteristic derived from a genetic test.Source Laws 2001, LB 620, § 18.
NE Code § 77-5519 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5519 - Genetic test, defined.

77-5519.  Genetic test, defined.Genetic test means the analysis of human DNA, RNA, and chromosomes and those proteins and metabolites used to detect heritable or somatic disease-related genotypes or karyotypes for clinical purposes. A genetic test must be generally accepted in the scientific and medical communities as being specifically determinative for the presence, absence, or mutation of a gene or chromosome in order to qualify under this definition. Genetic test does not include a routine physical examination or a routine analysis, including a chemical analysis, of body fluids unless conducted specifically to determine the presence, absence, or mutation of a gene or chromosome.Source Laws 2001, LB 620, § 19.
NE Code § 77-5520 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5520 - Investment, defined.

77-5520.  Investment, defined.Investment means the value of qualified property incorporated into or used at the project after the date of the application. For qualified property owned by the company, the value is the original cost of the property. For qualified property rented by the company, the value is the average net annual rent multiplied by the number of years of the lease for which the company was originally bound, not to exceed ten years or the end of the third year after the entitlement period, whichever is earlier. The rental of land included in and incidental to the leasing of a building may be included by the company in the computation.Source Laws 2001, LB 620, § 20.
NE Code § 77-5521 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5521 - Nebraska average annual wage, defined.

77-5521.  Nebraska average annual wage, defined.Nebraska average annual wage means the most recent average annual wage paid by all employers in this state for the most recent calendar year as reported by the Department of Labor on or before the July 1 immediately prior to the beginning of the particular year the company applied for benefits for which such determination applies.Source Laws 2001, LB 620, § 21.
NE Code § 77-5522 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5522 - Number of new employees, defined.

77-5522.  Number of new employees, defined.Number of new employees means the excess of the number of equivalent employees employed at the project during a year over the number of equivalent employees during the base year.Source Laws 2001, LB 620, § 22.
NE Code § 77-5523 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5523 - Project, defined.

77-5523.  Project, defined.Project means a project described in the Invest Nebraska Act and approved by the board.Source Laws 2001, LB 620, § 23.
NE Code § 77-5524 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5524 - Project year, defined.

77-5524.  Project year, defined.Project year means any year or portion of a year during the entitlement period of the project.Source Laws 2001, LB 620, § 24.
NE Code § 77-5525 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5525 - Qualified business, defined.

77-5525.  Qualified business, defined.Qualified business means any business engaged in the activities listed in subdivisions (1) through (5) of this section or in the storage, warehousing, distribution, transportation, or sale of tangible personal property. Qualified business does not include any business activity in which eighty percent or more of the total sales are sales to the ultimate consumer of food prepared for immediate consumption or are sales to the ultimate consumer of tangible personal property which is not assembled, fabricated, manufactured, or processed by the company or used by the purchaser in any of the following activities:(1) The conducting of research, development, or testing for scientific, agricultural, animal husbandry, food product, or industrial purposes;(2) The performance of data processing, telecommunication, insurance, or financial services. Financial services, for purposes of this subdivision, shall only include financial services provided by a financial institution subject to tax under sections 77-3801 to 77-3807 or any person or entity licensed by the Department of Banking and Finance or the Securities and Exchange Commission;(3) The assembly, fabrication, manufacture, or processing of tangible personal property;(4) The administrative management of any activities, including headquarter facilities, relating to such activity; or(5) Any combination of the activities listed in this section.Source Laws 2001, LB 620, § 25.
NE Code § 77-5526 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5526 - Qualified employee leasing company, defined.

77-5526.  Qualified employee leasing company, defined.Qualified employee leasing company means a company which places all employees of a client-lessee on its payroll and leases such employees to the client-lessee on an ongoing basis for a fee and, by written agreement between the employee leasing company and a client-lessee, grants to the client-lessee input into the hiring and firing of the employees.Source Laws 2001, LB 620, § 26.
NE Code § 77-5527 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5527 - Qualified property, defined.

77-5527.  Qualified property, defined.Qualified property means any tangible property of the type subject to depreciation, amortization, or other recovery under the Internal Revenue Code of 1986, as amended, or the components of such property that will be located and used at the project. Qualified property does not include aircraft, barges, motor vehicles, railroad rolling stock, or watercraft or property that is rented by the qualified company to another person.Source Laws 2001, LB 620, § 27.
NE Code § 77-5528 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5528 - Related persons, defined.

77-5528.  Related persons, defined.Related persons means any corporations, partnerships, limited liability companies, or joint ventures which are or would otherwise be members of the same unitary group, if incorporated, or any persons who are considered to be related persons under section 267(b) and (c) of the Internal Revenue Code of 1986, as amended, or section 707(b) of the code.Source Laws 2001, LB 620, § 28.
NE Code § 77-5529 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5529 - Start date, defined.

77-5529.  Start date, defined.Start date means the first date after the date of the application on which a qualified investment, that is either all or a part of a building in the project, is placed in service by the owner. For purposes of this definition, placed in service has the same meaning as that used for the Internal Revenue Code of 1986, as amended.Source Laws 2001, LB 620, § 29.
NE Code § 77-5530 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5530 - Year, defined.

77-5530.  Year, defined.Year means the taxable year of the company.Source Laws 2001, LB 620, § 30.
NE Code § 77-5532 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5532 - Refund; interest disallowed.

77-5532.  Refund; interest disallowed.Interest shall not be allowable on any refunds paid because of benefits earned under the Invest Nebraska Act.Source Laws 2001, LB 620, § 32.
NE Code § 77-5533 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5533 - Alternate investment tax credit; use.

77-5533.  Alternate investment tax credit; use.(1) A company which has signed an agreement under section 77-5536 may receive, in lieu of any wage benefit credit otherwise allowed by the Invest Nebraska Act, the incentive provided in this section if the agreement is for a project which will result in the investment in qualified property of at least two hundred million dollars and the hiring of at least five hundred new employees. Such two hundred million dollar investment and hiring of at least five hundred new employees shall be considered the required levels of investment and employment for this section and for the recapture of the incentives of this section only.(2) When the company has met the required levels of employment and investment contained in this section, the company shall be entitled to either the wage benefit credit provided in section 77-5531 or an investment tax credit equal to fifteen percent of the investment made in qualified property at the project. The company shall be required to state which option it will seek benefits under in the application for benefits under the act.(3) The investment tax credit prescribed in this section shall be allowable for investments made during each year of the entitlement period that the company is at or above the required levels of employment and investment. The credit shall also be allowable during the first year of the entitlement period for investment in qualified property at the project after the date of the application and before the required levels of employment and investment were met.(4) The investment tax credit prescribed in this section shall be established by filing the forms required by the Tax Commissioner with the income tax return for the year. The credits may be used to reduce the company's Nebraska income tax liability. The credits shall be applied in the order in which they were first allowed. Any decision on how part of the credit is applied shall not limit how the remaining credit could be applied under this section. The credit may be carried over until fully utilized, except that the credit may not be carried over more than eight years after the end of the entitlement period. If a credit is subsequently recaptured under section 77-5538, the credit shall be treated as if it had never been allowed.(5) The investment tax credit shall not be transferable, except that any credit to be taken against the income tax liability of the company and allowable to a partnership, a limited liability company, a subchapter S corporation, a cooperative, a joint venture, or an estate or trust may be distributed to the partners, members, shareholders, patrons, owners, or beneficiaries in the same manner as income is distributed for use against their income tax liabilities.Source Laws 2001, LB 620, § 33.
NE Code § 77-5535 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5535 - Board; quorum; meetings; procedures.

77-5535.  Board; quorum; meetings; procedures.(1) Any two members of the board shall constitute a quorum for the transaction of the business of the board. The Governor shall be the chairperson of the board. The address of the board is the Department of Revenue.(2)(a) The Tax Commissioner is designated as the secretary of the board with the following responsibilities: The scheduling of a meeting when an application is to be considered; the publishing of the notices of the meeting according to the Invest Nebraska Act; the keeping of the minutes of the meetings and other records of the board; the notification of the applicant of the decision of the board; the receiving and entering into the record any written testimony concerning an application; and the consenting on behalf of the board to an extension of time within which the board is to make a decision.(b) The Tax Commissioner shall give at least ten days' notice of meetings by publication in at least six newspapers across the state. The Tax Commissioner shall also give notice of meetings by publication in a newspaper that is local to the project area. A copy of the notice shall be posted in the State Capitol and a state office building in Lincoln. A copy of the notice shall be sent to the company. A news release shall be distributed by the Tax Commissioner.(c) The Tax Commissioner shall notify the company in writing as to whether the board has approved or not approved the application. The board shall decide and such notice shall be mailed within sixty days after receipt of the application, unless such time is extended by mutual written consent of the Tax Commissioner and the company.(3) The meeting of the board shall be recorded by a court reporter. The closed portion of the meeting shall be also recorded, and the record of that portion shall be sealed. The only persons who may attend the closed session of the board are the members of the board, the representatives of the company, other persons invited at the request of the company, the Tax Commissioner, other employees of the Department of Revenue, and the court reporter. Other persons, as necessary, may be invited by the board for the purpose of providing specific, confidential information. However, they may only attend the portion of the meeting necessary to provide the information requested by the board.Source Laws 2001, LB 620, § 35.
NE Code § 77-5537 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5537 - Employment practices prohibited.

77-5537.  Employment practices prohibited.A company entering into an agreement under the Invest Nebraska Act is prohibited from requiring as a condition of employment or promotion at the project that an employee or an individual applying for employment at the project submit to a genetic test or provide genetic information outside the scope of normal blood testing.Source Laws 2001, LB 620, § 37.
NE Code § 77-5538 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5538 - Tax credit; recapture or disallowance; interest and penalties.

77-5538.  Tax credit; recapture or disallowance; interest and penalties.(1) If the company fails to utilize a project in a qualified business at or above the required levels of employment and investment required in the Invest Nebraska Act for the entire entitlement period, a portion of the wage benefit credit or investment tax credit shall be recaptured directly by the state from the company or shall be disallowed. In no event shall any wage benefit credit be required to be paid back directly or indirectly by the employees, but instead shall be paid by the company.(2) In the case of a company which has failed to maintain the project at the required levels of employment and investment for the entire entitlement period the recapture or disallowance shall be as follows: (a) No wage benefit credits or investment tax credits shall be allowed to the company for the actual year or years in which the required levels of employment or investment were not maintained; (b) for wage benefit credits or investment tax credits used, one-tenth of the credits shall be recaptured from the company for each year the required levels of employment or investment were not maintained; and (c) as to wage benefits credits or investment tax credits remaining at the end of the entitlement period, one-tenth of the credits shall be disallowed to the company for each year the required levels of employment or investment were not maintained in previous years.(3)(a) Any amounts required to be recaptured shall be deemed to be an underpayment of tax, shall be immediately due and payable, and shall constitute a lien on the assets of the company. When wage benefit credits or investment tax credits were received in more than one year, the credits received in the most recent year shall be recovered first and then the credits received in earlier years up to the extent of the required recapture.(b) In the case of a company which has failed to maintain the project at the required levels of employment and investment for the entire entitlement period, interest accrues from the due date for the return on which the credits being recaptured were used.(c) Penalties for underpayment of withholding or income tax, as appropriate, do not accrue unless repayment is not made within ninety days after the requirement for recapture or disallowance becomes known or should have become known to the company.(4) The recapture or disallowance required by this section may be waived by the board if the board finds the failure to attain or maintain the required levels of employment or investment was caused by unavoidable circumstances such as an act of God or national emergency.(5) When recapture occurs with regard to any partnership, limited liability company, subchapter S corporation, joint venture, cooperative, or estate or trust, the partnership, limited liability company, subchapter S corporation, joint venture, cooperative, or estate or trust shall be liable for payment of the required recapture.Source Laws 2001, LB 620, § 38.
NE Code § 77-5539 (2021)
2021 Nebraska Revised Statutes|Chapter 77 - Revenue and Taxation|77-5539 - Transfer of project.

77-5539.  Transfer of project.A project covered by an agreement may be transferred in its entirety by sale or lease to another person or in an acquisition of assets qualifying under section 381 of the Internal Revenue Code of 1986, as amended. The acquiring persons shall be entitled to the same benefits as the original company and shall be subject to the same obligations, including recapture and disallowance of benefits received either before or after the transfer, as the original company would have been if the project was not transferred.Source Laws 2001, LB 620, § 39.