reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6811 - Investment, defined.

77-6811.
Investment, defined.
Investment means the value of qualified property incorporated into or used at the qualified location or locations. For qualified property owned by the taxpayer, the value shall be the original cost of the property. Improvements to real estate qualify as investment even if the entire improvement is not finished or ready for use. The percentage of completion of the improvement determines the portion of the investment that has occurred for any given year. For qualified property rented by the taxpayer, the average net annual rent shall be multiplied by the number of years of the lease for which the taxpayer was originally bound, not to exceed ten years. The rental of land included in and incidental to the leasing of a building shall not be excluded from the computation. For purposes of this section, original cost means the amount required to be capitalized for depreciation, amortization, or other recovery under the Internal Revenue Code of 1986, as amended. Any amount, including the labor of the taxpayer, that is capitalized as a part of the cost of the qualified property or that is written off under section 179 of the Internal Revenue Code of 1986, as amended, shall be considered part of the original cost.
Source
Laws 2020, LB1107, § 11;
Laws 2022, LB1150, § 17.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6812 - Motor vehicle, defined.

77-6812.
Motor vehicle, defined.
Motor vehicle means any motor vehicle, trailer, or semitrailer as defined in the Motor Vehicle Registration Act and subject to registration for operation on the highways.
Source
Laws 2020, LB1107, § 12.
Cross References
Motor Vehicle Registration Act, see section 60-301.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6813 - NAICS, defined.

77-6813.
NAICS, defined.
NAICS means the North American Industry Classification System established by the United States Department of Commerce and applied to classify the locations owned or leased by the taxpayer, including the specific NAICS codes and code definitions in effect on January 1, 2020.
Source
Laws 2020, LB1107, § 13.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6814 - Nebraska statewide average hourly wage for any year, defined.

77-6814.
Nebraska statewide average hourly wage for any year, defined.
Nebraska statewide average hourly wage for any year means the most recent statewide average hourly wage paid by all employers in all counties in Nebraska as calculated by the Office of Labor Market Information of the Department of Labor using annual data from the Quarterly Census of Employment and Wages by October 1 of the year prior to application. Hourly wages shall be calculated by dividing the reported average annual weekly wage by forty.
Source
Laws 2020, LB1107, § 14.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6816 - Performance period, defined.

77-6816.
Performance period, defined.
Performance period means the year during which the required increases in employment and investment were met or exceeded and each year thereafter until the end of the sixth year after the year the required increases were met or exceeded.
Source
Laws 2020, LB1107, § 16.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6817 - Qualified employee leasing company, defined.

77-6817.
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 leased to the client-lessee.
Source
Laws 2020, LB1107, § 17.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6819 - Qualified property, defined.

77-6819.
Qualified property, defined.
Qualified property means any tangible property of a 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 (1) aircraft, barges, motor vehicles, railroad rolling stock, or watercraft or (2) property that is rented by the taxpayer qualifying under the ImagiNE Nebraska Act to another person. Qualified property of the taxpayer located at the residence of an employee working in Nebraska from his or her residence on tasks interdependent with the work performed at the project shall be deemed located and used at the project.
Source
Laws 2020, LB1107, § 19.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6820 - Ramp-up period, defined.

77-6820.
Ramp-up period, defined.
Ramp-up period means the period of time from the date of the complete application through the end of the fourth year after the year in which the complete application was filed with the director.
Source
Laws 2020, LB1107, § 20.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6821 - Related persons, defined.

77-6821.
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 either section 267(b) and (c) or section 707(b) of the Internal Revenue Code of 1986, as amended.
Source
Laws 2020, LB1107, § 21.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6822 - Taxpayer, defined.

77-6822.
Taxpayer, defined.
Taxpayer means any person subject to sales and use taxes under the Nebraska Revenue Act of 1967 and subject to withholding under section 77-2753 and any entity that is or would otherwise be a member of the same unitary group, if incorporated, that is subject to such sales and use taxes and such withholding. Taxpayer does not include a political subdivision or an organization that is exempt from income taxes under section 501(a) of the Internal Revenue Code of 1986, as amended. For purposes of this section, political subdivision includes any public corporation created for the benefit of a political subdivision and any group of political subdivisions forming a joint public agency, organized by interlocal agreement, or utilizing any other method of joint action.
Source
Laws 2020, LB1107, § 22.
Cross References
Nebraska Revenue Act of 1967, see section 77-2701.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6826 - Qualified employee leasing company; employees; duty.

77-6826.
Qualified employee leasing company; employees; duty.
An employee of a qualified employee leasing company shall be considered to be an employee of the client-lessee for purposes of the ImagiNE Nebraska Act if the employee performs services for the client-lessee. A qualified employee leasing company shall provide the Department of Revenue with access to the records of employees leased to the client-lessee.
Source
Laws 2020, LB1107, § 26.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6830 - Transactions and activities excluded.

77-6830.
Transactions and activities excluded.
The following transactions or activities shall not create any credits or allow any benefits under the ImagiNE Nebraska Act except as specifically allowed by this section:
(1) The acquisition of a business after the date of application which is continued by the taxpayer as a part of the agreement and which was operated in this state during the three hundred sixty-six days prior to the date of acquisition. All employees of the entities added to the taxpayer by the acquisition during the three hundred sixty-six days prior to the date of acquisition shall be considered employees during the base year. Any investment prior to the date of acquisition made by the entities added to the taxpayer by the acquisition or any investment in the acquisition of such business shall be considered as being made before the date of application;
(2) The moving of a business from one location to another, which business was operated in this state during the three hundred sixty-six days prior to the date of application. All employees of the business during such three hundred sixty-six days shall be considered base-year employees;
(3) The purchase or lease of any property which was previously owned by the taxpayer or a related person. The first purchase by either the taxpayer or a related person shall be treated as investment if the item was first placed in service in the state after the date of the application;
(4) The renegotiation of any lease in existence on the date of application which does not materially change any of the terms of the lease, other than the expiration date, shall be presumed to be a transaction entered into for the purpose of generating benefits under the act and shall not be allowed in the computation of any benefit or the meeting of any required levels under the agreement;
(5) Any purchase or lease of property from a related person, except that the taxpayer will be allowed any benefits under the act to which the related person would have been entitled on the purchase or lease of the property if the related person was considered the taxpayer;
(6) Any transaction entered into primarily for the purpose of receiving benefits under the act which is without a business purpose and does not result in increased economic activity in the state; and
(7) Any activity that results in benefits under the Ethanol Development Act.
Source
Laws 2020, LB1107, § 30.
Cross References
Ethanol Development Act, see section 66-1330.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6836 - Application; valid; when; director; Tax Commissioner; powers and duties.

77-6836.
Application; valid; when; director; Tax Commissioner; powers and duties.
(1) Any complete application shall be considered a valid application on the date submitted for the purposes of the ImagiNE Nebraska Act.
(2) The director shall be allowed access, by the Tax Commissioner, to information associated with the Nebraska Advantage Act, the Nebraska Advantage Rural Development Act, and the Employment and Investment Growth Act to meet the director's obligations under the ImagiNE Nebraska Act.
(3) The director may contract with the Tax Commissioner for services that the director determines are necessary to fulfill the director's responsibilities under the ImagiNE Nebraska Act, other than services which constitute the actual actions and decisions required to be taken or made by the director under the ImagiNE Nebraska Act.
(4) The Tax Commissioner shall develop and maintain an electronic application and reporting system to be used by the director and Tax Commissioner to administer the ImagiNE Nebraska Act.
Source
Laws 2020, LB1107, § 36.
Cross References
Employment and Investment Growth Act, see section 77-4101.
Nebraska Advantage Act, see section 77-5701.
Nebraska Advantage Rural Development Act, see section 77-27,187.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6838 - Rules and regulations.

77-6838.
Rules and regulations.
Except as otherwise stated in the ImagiNE Nebraska Act, the director, with input from the Tax Commissioner, may adopt and promulgate all procedures and rules and regulations necessary to carry out the purposes of the ImagiNE Nebraska Act.
Source
Laws 2020, LB1107, § 38.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6840 - Employment and wage data information; Department of Labor; duty.

77-6840.
Employment and wage data information; Department of Labor; duty.
The Department of Labor shall, as requested, provide to the director and the Tax Commissioner the employment and wage data information necessary to meet the responsibilities of the director and Tax Commissioner under the ImagiNE Nebraska Act, to the extent the Department of Labor collects such information.
Source
Laws 2020, LB1107, § 40.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6842 - Workforce training loan; application; partnering entities; loan approval; factors considered.

77-6842.
Workforce training loan; application; partnering entities; loan approval; factors considered.
(1) A taxpayer with an application under the ImagiNE Nebraska Act may apply for a workforce training loan by submitting an application to the Department of Economic Development which includes, but is not limited to:
(a) The number of jobs to be created that will require training or the number of existing positions that will be trained;
(b) The nature of the business and the type of jobs to be created that will require training or positions to be trained;
(c) The estimated wage levels of the jobs to be created or positions to be trained; and
(d) A program schedule for the workforce training project.
(2) A taxpayer may partner with a postsecondary educational institution in Nebraska, a private, nonprofit educational organization in Nebraska holding a certificate of exemption under section 501(c)(3) of the Internal Revenue Code of 1986, as amended, a Nebraska educational service unit, or a school district in Nebraska to assist in providing the workforce training. The application shall specify the role of the partnering entity in identifying and training potential job applicants for the applicant business.
(3) The director shall determine whether to approve the taxpayer's application for a workforce training loan under the ImagiNE Nebraska Act based upon the director's determination as to whether the loan will help enable the state to accomplish the purposes stated in section 77-6841. The director shall be governed by and shall take into consideration all of the following factors in making such determination:
(a) The department's comprehensive business development strategy;
(b) The necessity of the loan to assure that the applicant will expand employment in Nebraska;
(c) The number of jobs to be created; and
(d) The expected pay of the jobs to be created.
Source
Laws 2020, LB1107, § 42.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6843 - Infrastructure development loan; application; approval; factors considered.

77-6843.
Infrastructure development loan; application; approval; factors considered.
(1) A taxpayer with an application under the ImagiNE Nebraska Act may apply for an infrastructure development loan by submitting an application to the Department of Economic Development which includes, but is not limited to:
(a) The nature of the business and the type and number of jobs to be created or retained;
(b) The estimated wage levels of the jobs to be created or retained; and
(c) A brief description of the infrastructure need that the loan is intended to fill.
(2) The director shall determine whether to approve the taxpayer's application for an infrastructure development loan under the ImagiNE Nebraska Act based upon the director's determination as to whether the loan will help enable the state to accomplish the purposes stated in section 77-6841. The director shall be governed by and shall take into consideration all of the following factors in making such determination:
(a) The department's comprehensive business development strategy;
(b) The necessity of the loan to assure that the applicant will expand employment in Nebraska;
(c) The number of jobs to be created; and
(d) The expected pay of the jobs to be created.
Source
Laws 2020, LB1107, § 43.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6844 - Nebraska-based covered entity under federal law; application; approval; conditions; director; issue agreement, when.

77-6844.
Nebraska-based covered entity under federal law; application; approval; conditions; director; issue agreement, when.
(1) It is the intent of the Legislature that an application made by a taxpayer that is a Nebraska-based covered entity as defined in 15 U.S.C. 4651 under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283, be approved upon receipt if:
(a) The taxpayer's application contains the items listed in subsection (2) of section 77-6827; and
(b) The taxpayer's application meets the federal eligibility requirements of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283.
(2) Not more than thirty days after receipt and approval of an application under subsection (1) of this section, the director shall issue to such taxpayer a written agreement conforming to the requirements of sections 77-6828, 77-6845, and 77-6846.
Source
Laws 2023, LB92, § 82.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6845 - Nebraska-based covered entity under federal law; agreement; contents; limitations.

77-6845.
Nebraska-based covered entity under federal law; agreement; contents; limitations.
(1) An agreement issued pursuant to section 77-6844 shall contain total incentives, refunds, and credits earned through the ImagiNE Nebraska Act sufficient to equal twenty-five percent of the taxpayer's investment in qualified property for the fabrication, assembly, testing, advanced packaging, or production of semiconductors or technologies with extensive microelectronic content. The director shall ensure that such agreement creates no additional obligation upon the General Fund.
(2) With respect to an application or agreement with a taxpayer that is a Nebraska-based covered entity as defined in 15 U.S.C. 4651 under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283:
(a) The provisions of section 77-6839 shall not apply, except that the annual credits and incentives redeemed by the taxpayer may be limited to one-fifteenth of the total credits and incentives eligible to be earned during a fifteen-year performance period, as defined by section 77-6816; and
(b) The taxpayer may not carryover earned but unused incentives past the performance period.
Source
Laws 2023, LB92, § 83.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6846 - Nebraska-based covered entity under federal law; incentives or credits; use.

77-6846.
Nebraska-based covered entity under federal law; incentives or credits; use.
A taxpayer that is also a Nebraska-based covered entity as described in 15 U.S.C. 4651 that qualifies under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283, may use earned incentives or credits under the ImagiNE Nebraska Act:
(1) To obtain a refund from the state equal to the amount that the taxpayer demonstrates to the director was paid by the taxpayer after the date of the complete application to repay the principal or interest on revenue bonds issued by an inland port authority pursuant to section 13-3308;
(2) To provide financial assistance to public and private sector initiatives that are intended to improve Nebraska's ability to attract microelectronic-based enterprises, especially those incentivized under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283, by making necessary investments in the semiconductor industry and technologies with extensive microelectronic content, including, but not limited to, grants for the establishment of private sector entities for such purposes within eligible economically disadvantaged areas in Nebraska, as set forth in section 9902(a)(2)(B) of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283;
(3) To provide financial assistance to a community college located in a city of the metropolitan class working in collaboration with private sector partners and any interested university, college, other community college, and technical school located in this state to support education expansion and curricula development in order to meet the needs of the domestic semiconductor workforce in Nebraska as set forth in section 9902(a)(2)(B) of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283; and
(4) For any other eligible use authorized pursuant to the ImagiNE Nebraska Act.
Source
Laws 2023, LB92, § 84.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6904 - Base year, defined.

77-6904.
Base year, defined.
Base year means the year immediately preceding the year of application, except that if the year of application is 2021, the base year is either 2019 or 2020, whichever year the applicant had the larger number of equivalent employees at the qualified location.
Source
Laws 2021, LB544, § 4.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6905 - Base-year employee, defined.

77-6905.
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 taxpayer or its predecessors during the base year and who is employed at the qualified location.
Source
Laws 2021, LB544, § 5.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6906 - Economic redevelopment area, defined.

77-6906.
Economic redevelopment area, defined.
Economic redevelopment area means an area in the State of Nebraska in which:
(1) The average rate of unemployment in the area during the period covered by the most recent federal decennial census or American Community Survey 5-Year Estimate by the United States Bureau of the Census is at least one hundred fifty percent of the average rate of unemployment in the state during the same period; and
(2) The average poverty rate in the area is twenty percent or more for the federal census tract in the area.
Source
Laws 2021, LB544, § 6.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6907 - Equivalent employees, defined.

77-6907.
Equivalent employees, defined.
Equivalent employees means the number of employees computed by dividing the total hours paid in a year to employees by the product of forty times the number of weeks in a year. Only the hours paid to employees who are residents of this state shall be included in such computation. A salaried employee who receives a predetermined amount of compensation each pay period on a weekly or less frequent basis is deemed to have been paid for forty hours per week during the pay period.
Source
Laws 2021, LB544, § 7.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6908 - Investment, defined.

77-6908.
Investment, defined.
Investment means the value of qualified property incorporated into or used at the qualified location. For qualified property owned by the taxpayer, the value shall be the original cost of the property. For qualified property rented by the taxpayer, the average net annual rent shall be multiplied by the number of years of the lease for which the taxpayer was originally bound, not to exceed ten years. The rental of land included in and incidental to the leasing of a building shall not be excluded from the computation. For purposes of this section, original cost means the amount required to be capitalized for depreciation, amortization, or other recovery under the Internal Revenue Code of 1986, as amended. Any amount, including the labor of the taxpayer, that is capitalized as a part of the cost of the qualified property or that is written off under section 179 of the Internal Revenue Code of 1986, as amended, shall be considered part of the original cost.
Source
Laws 2021, LB544, § 8.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6909 - Nebraska statewide average hourly wage for any year, defined.

77-6909.
Nebraska statewide average hourly wage for any year, defined.
Nebraska statewide average hourly wage for any year means the most recent statewide average hourly wage paid by all employers in all counties in Nebraska as calculated by the Office of Labor Market Information of the Department of Labor using annual data from the Quarterly Census of Employment and Wages by October 1 of the year prior to application. Hourly wages shall be calculated by dividing the reported average annual weekly wage by forty.
Source
Laws 2021, LB544, § 9.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6911 - Performance period, defined.

77-6911.
Performance period, defined.
Performance period means the year during which the required increases in employment and investment were met or exceeded and each year thereafter until the end of the third year after the year the required increases were met or exceeded.
Source
Laws 2021, LB544, § 11.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6912 - Qualified location, defined.

77-6912.
Qualified location, defined.
Qualified location means any location in a city of the metropolitan class or a city of the primary class that is used or will be used by the taxpayer to conduct business activities and that is located within an economic redevelopment area. More than one qualified location may be part of the same agreement.
Source
Laws 2021, LB544, § 12;
Laws 2022, LB1261, § 17.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6913 - Qualified property, defined.

77-6913.
Qualified property, defined.
Qualified property means any tangible property of a 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 qualified location. Qualified property does not include (1) aircraft, barges, motor vehicles, railroad rolling stock, or watercraft or (2) property that is rented by the taxpayer qualifying under the Urban Redevelopment Act to another person.
Source
Laws 2021, LB544, § 13.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6915 - Related taxpayers, defined.

77-6915.
Related taxpayers, defined.
Related taxpayers shall include any corporations that are part of a unitary business under the Nebraska Revenue Act of 1967 but are not part of the same corporate taxpayer, any business entities that are not corporations but which would be a part of the unitary business if they were corporations, and any business entities if at least fifty percent of such entities are owned by the same persons or related taxpayers and family members as defined in the ownership attribution rules of the Internal Revenue Code of 1986, as amended.
Source
Laws 2021, LB544, § 15.
Cross References
Nebraska Revenue Act of 1967, see section 77-2701.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6916 - Taxpayer, defined.

77-6916.
Taxpayer, defined.
Taxpayer means any person subject to sales and use taxes under the Nebraska Revenue Act of 1967 and subject to withholding under section 77-2753 and any entity that is or would otherwise be a member of the same unitary group, if incorporated, that is subject to such sales and use taxes and such withholding. Taxpayer does not include a political subdivision or an organization that is exempt from income taxes under section 501(a) of the Internal Revenue Code of 1986, as amended. For purposes of this section, political subdivision includes any public corporation created for the benefit of a political subdivision and any group of political subdivisions forming a joint public agency, organized by interlocal agreement, or utilizing any other method of joint action.
Source
Laws 2021, LB544, § 16.
Cross References
Nebraska Revenue Act of 1967, see section 77-2701.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6920 - Tax credits; conditions; amounts; teleworker; treatment.

77-6920.
Tax credits; conditions; amounts; teleworker; treatment.
(1) A tax credit shall be allowed to any taxpayer who has an approved application pursuant to the Urban Redevelopment Act if the taxpayer:
(a) Attains a cumulative investment in qualified property of at least one hundred fifty thousand dollars and hires at least five new employees at the qualified location or locations before the end of the ramp-up period; and
(b) Pays a minimum qualifying wage of seventy percent of the Nebraska statewide average hourly wage to the new equivalent employees for whom tax incentives are sought under the Urban Redevelopment Act.
(2) A tax credit shall be allowed to any taxpayer who has an approved application pursuant to the Urban Redevelopment Act if the taxpayer attains a cumulative investment in qualified property of at least fifty thousand dollars at the qualified location or locations before the end of the ramp-up period.
(3) Subject to subsection (5) of this section, the amount of the credit allowed under subsection (1) of this section shall be:
(a) Three thousand dollars for each new equivalent employee, except that such amount shall be increased by one thousand dollars for each equivalent employee who lives in an economic redevelopment area; and
(b) Two thousand seven hundred fifty dollars for each fifty thousand dollars of increased investment.
(4) Subject to subsection (5) of this section, the amount of the credit allowed under subsection (2) of this section shall be five percent of the investment.
(5) A taxpayer may qualify for a credit under either subsection (1) or (2) of this section, but cannot qualify for a credit under both such subsections. The credit shall not exceed fifty thousand dollars. The taxpayer shall receive such credit for each year of the performance period that the taxpayer is at or above the required levels of employment and cumulative investment.
(6) A taxpayer shall not qualify for any credits under the Urban Redevelopment Act if the taxpayer is receiving any benefits under any other tax incentive program offered by the State of Nebraska.
(7) A teleworker working from his or her residence shall not be considered an equivalent employee of the taxpayer for purposes of the Urban Redevelopment Act unless the teleworker's residence is located in the economic redevelopment area in which the taxpayer's qualified location is located.
Source
Laws 2021, LB544, § 20;
Laws 2022, LB1261, § 19.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6921 - Existing business acquisition, disposal, reorganization, or relocation; computation; certain transactions excluded.

77-6921.
Existing business acquisition, disposal, reorganization, or relocation; computation; certain transactions excluded.
(1)(a) If the taxpayer acquires an existing business, the increases in investment and employment shall be computed as though the taxpayer had owned the business for the entire taxable year preceding the date of application.
(b) If the taxpayer disposes of an existing business and the new owner maintains the minimum increases in investment and employment required to create incentives, the taxpayer shall not be required to make any repayment under section 77-6923 solely because of the disposition of the business.
(2) If the structure of a business is reorganized, the taxpayer shall compute the increases on a consistent basis for all periods.
(3) If the taxpayer moves a business from one qualified location to another qualified location and the business was operated in a qualified location during the taxable year preceding the date of application, the increases in investment and employment shall be computed as though the taxpayer had operated the business at the new location for the entire taxable year preceding the date of application.
(4) If the taxpayer enters into any of the following transactions, the transaction shall be presumed to be a transaction entered into for the purpose of generating benefits under the Urban Redevelopment Act and shall not be allowed in the computation of any benefit or the meeting of any required levels under the agreement except as specifically provided in this subsection:
(a) The purchase or lease of any property that was previously owned by the taxpayer who filed the application or a related taxpayer unless the first purchase by either the taxpayer who filed the application or a related taxpayer was first placed in service at a qualified location after the beginning of the taxable year the application was filed;
(b) The renegotiation of any lease in existence during the taxable year the application was filed which does not materially change any of the terms of the lease other than the expiration date;
(c) The purchase or lease of any property from a related taxpayer, except that the taxpayer who filed the application will be allowed any benefits under the act to which the related taxpayer would have been entitled on the purchase or lease of the property if the related taxpayer was considered the taxpayer; and
(d) Any transaction entered into primarily for the purpose of receiving benefits under the act which is without a business purpose and does not result in increased economic activity in the state.
Source
Laws 2021, LB544, § 21.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6923 - Tax credits; recapture; amount; deadline.

77-6923.
Tax credits; recapture; amount; deadline.
(1) If the taxpayer fails to maintain employment and investment levels at or above the levels required in the agreement for the entire performance period, any refunds or reduction in tax allowed under the Urban Redevelopment Act shall be partially recaptured from the taxpayer. The amount of the recapture for each incentive shall be a percentage equal to the number of years the taxpayer did not maintain the required levels of investment or employment divided by the number of years of the performance period, with such percentage then multiplied by the refunds or reductions in tax allowed.
(2) Any refund or reduction in tax due, to the extent required to be recaptured, shall be deemed to be an underpayment of the tax and shall be immediately due and payable. When tax incentives were received in more than one year, the incentives received in the most recent year shall be recovered first and then the incentives received in earlier years up to the extent of the required recapture.
(3) Notwithstanding any other limitations contained in the laws of this state, collection of any taxes deemed to be underpayments by this section shall be allowed for a period of three years after the end of the performance period or three calendar years after the incentive was allowed, whichever is later.
(4) The recapture required by this section shall not occur if the failure to maintain the required levels of employment or investment was caused by an act of God or a national emergency.
Source
Laws 2021, LB544, § 23.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6924 - Employees; verification of status required; exclusions.

77-6924.
Employees; verification of status required; exclusions.
(1) The Director of Economic Development shall not approve or grant to any person any tax incentive under the Urban Redevelopment Act unless the taxpayer provides evidence satisfactory to the director that the taxpayer electronically verified the work eligibility status of all newly hired employees employed in Nebraska.
(2) For purposes of calculating any tax incentive available under the act, the director shall exclude hours worked and compensation paid to an employee that is not eligible to work in Nebraska as verified under subsection (1) of this section.
Source
Laws 2021, LB544, § 24.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6925 - Incentives; transfer; when.

77-6925.
Incentives; transfer; when.
The incentives allowed under the Urban Redevelopment Act shall not be transferable except in the following situations:
(1) Any credit allowable to a partnership, a limited liability company, a subchapter S corporation, a cooperative, including a cooperative exempt under section 521 of the Internal Revenue Code of 1986, as amended, a limited cooperative association, or an estate or trust may be distributed to the partners, limited liability company members, shareholders, patrons, limited cooperative association members, or beneficiaries. Any credit distributed shall be distributed in the same manner as income is distributed. A credit distributed shall be considered a credit used and the partnership, limited liability company, subchapter S corporation, cooperative, limited cooperative association, estate, or trust shall be liable for any repayment under section 77-6923;
(2) The incentives previously allowed and the future allowance of incentives may be transferred when a project covered by an agreement is transferred by sale or lease to another taxpayer or in an acquisition of assets qualifying under section 381 of the Internal Revenue Code of 1986, as amended. The acquiring taxpayer, as of the date of notification of the Director of Economic Development of the completed transfer, shall be entitled to any unused credits and to any future incentives allowable under the act. The acquiring taxpayer shall be liable for any repayment that becomes due after the date of the transfer with respect to any benefits received either before or after the transfer; and
(3) If a taxpayer allowed a credit under section 77-6920 dies and there is credit remaining after the filing of the final return for the taxpayer, the personal representative shall determine the distribution of the credit with the initial fiduciary return filed for the estate. The determination of the distribution of the credit may be changed only after obtaining the permission of the director.
Source
Laws 2021, LB544, § 25.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6927 - Base-year employment levels; review and certification; effect.

77-6927.
Base-year employment levels; review and certification; effect.
(1) The taxpayer may request the Tax Commissioner to review and certify the taxpayer's base-year employment levels. Upon a request for such review, the Tax Commissioner shall be given access to the employment and business records of the taxpayer and must complete the review within ninety days after the request. If the Tax Commissioner requests, by mail or by electronic means, additional information or clarification from the taxpayer in order to make his or her determination, the ninety-day period shall be tolled from the time the Tax Commissioner makes the request to the time he or she receives the requested information or clarification from the taxpayer. The taxpayer and the Tax Commissioner may also agree to extend the ninety-day period. If the Tax Commissioner fails to make his or her determination within the prescribed ninety-day period, the certification is deemed approved.
(2) Upon review, the Tax Commissioner may approve or amend the taxpayer's base-year employment levels based upon the employment and business records provided by the taxpayer. Once the Tax Commissioner certifies the employment levels, the certification is binding on the Department of Revenue when the taxpayer claims benefits on a return to the extent the information provided by the taxpayer was accurate and to the extent such information is not affected by any of the situations described in section 77-6921.
(3) If the taxpayer does not request review and certification of employment levels under this section, such levels are subject to later audit by the Department of Revenue.
Source
Laws 2021, LB544, § 27.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6928 - Reports.

77-6928.
Reports.
(1) On or before July 15, 2024, and on or before July 15 of each year thereafter, the Director of Economic Development shall prepare a report that includes:
(a) The total amount of investment at qualified locations in the previous calendar year by taxpayers who are receiving incentives pursuant to the Urban Redevelopment Act;
(b) The total number of equivalent employees added in the previous calendar year by taxpayers who are receiving incentives pursuant to the act; and
(c) The total amount of credits claimed and refunds approved in the previous calendar year under the act.
(2) The report shall also provide information on project-specific total incentives used every two years for each approved project, including (a) the identity of the taxpayer, (b) the qualified location of the project, and (c) the total credits used and refunds approved during the immediately preceding two years expressed as a single, aggregated total. The incentive information required to be reported under this subsection shall not be reported for the first year the taxpayer attains the required employment and investment thresholds. The information on first-year incentives used shall be combined with and reported as part of the second year. Thereafter, the information on incentives used for succeeding years shall be reported for each project every two years and shall include information on two years of credits used and refunds approved. The incentives used shall include incentives that have been approved by the Director of Economic Development, but not necessarily received, during the previous two calendar years.
(3) On or before September 1, 2024, and on or before September 1 of each year thereafter, the Department of Economic Development shall present the report electronically to the Appropriations Committee of the Legislature. Any supplemental information requested by three or more committee members shall be presented within thirty days after the request.
(4) No information shall be provided in the report that is protected by state or federal confidentiality laws.
Source
Laws 2021, LB544, § 28.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-7002 - Terms, defined.

77-7002.
Terms, defined.
For purposes of the Nebraska Higher Blend Tax Credit Act:
(1) Department means the Department of Revenue;
(2) E-15 means ethanol blended gasoline formulated with a percentage of more than ten percent but no more than fifteen percent by volume of ethanol;
(3) E-25 means ethanol blended gasoline formulated with a percentage of twenty-five percent by volume of ethanol;
(4) E-30 means ethanol blended gasoline formulated with a percentage of thirty percent by volume of ethanol;
(5) E-85 means ethanol blended gasoline formulated with a percentage of fifty-one percent to eighty-three percent by volume of ethanol;
(6) Motor fuel pump means a meter or similar commercial weighing and measuring device used to measure and dispense motor fuel originating from a motor fuel storage tank;
(7) Retail dealer means a person engaged in the business of storing and dispensing motor fuel from a motor fuel pump for sale on a retail basis;
(8) Retail motor fuel site means a geographic location in this state where a retail dealer sells and dispenses motor fuel from a motor fuel pump on a retail basis; and
(9) Taxpayer means any natural person or any limited liability company, partnership, private domestic or private foreign corporation, or domestic or foreign nonprofit corporation certified pursuant to section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
Source
Laws 2022, LB1261, § 2;
Laws 2023, LB562, § 20.
Effective Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-7004 - Tax credit; application; approval; limitation; department; duties.

77-7004.
Tax credit; application; approval; limitation; department; duties.
(1) If the department determines that an application is complete and that the taxpayer qualifies for tax credits, the department shall approve the application within the limits set forth in this section and shall certify the amount of tax credits approved to the taxpayer.
(2) The department shall consider applications in the order in which they are received and may approve tax credits until the annual limit for the calendar year has been reached. For calendar year 2022, the annual limit on tax credits shall be two million dollars. For calendar year 2023, the annual limit on tax credits shall be calculated by taking the annual limit from the prior calendar year and then multiplying such amount by (a) two hundred percent if the amount of tax credits approved in the prior calendar year exceeded ninety percent of the annual limit applicable to that calendar year or (b) one hundred percent if the amount of tax credits approved in the prior calendar year did not exceed ninety percent of the annual limit applicable to that calendar year. For calendar years 2024 through 2028, the annual limit on tax credits shall be five million dollars.
Source
Laws 2022, LB1261, § 4;
Laws 2023, LB562, § 22.
Effective Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-7005 - Tax credit; how claimed; excess; how treated.

77-7005.
Tax credit; how claimed; excess; how treated.
(1) A taxpayer shall claim the tax credit by attaching the tax credit certification received from the department under section 77-7004 to the taxpayer's tax return.
(2) Any credit in excess of the taxpayer's tax liability shall be refunded to the taxpayer. In lieu of claiming a refund, the taxpayer may elect to have the excess carried forward to subsequent taxable years. A taxpayer may carry forward the excess tax credits until fully utilized.
Source
Laws 2022, LB1261, § 5.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-7006 - Tax credit; distribution.

77-7006.
Tax credit; distribution.
Any tax credit allowable to a partnership, a limited liability company, a subchapter S corporation, or an estate or trust may be distributed to the partners, limited liability company members, shareholders, or beneficiaries in the same manner as income is distributed.
Source
Laws 2022, LB1261, § 6.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-7007 - Limitation on new applications.

77-7007.
Limitation on new applications.
There shall be no new applications filed under the Nebraska Higher Blend Tax Credit Act after December 31, 2028. All applications and all tax credits pending or approved before such date shall continue in full force and effect.
Source
Laws 2022, LB1261, § 7;
Laws 2023, LB562, § 23.
Effective Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-7009 - Nebraska Biodiesel Tax Credit Act, how cited.

77-7009.
Nebraska Biodiesel Tax Credit Act, how cited.
Sections 77-7009 to 77-7016 shall be known and may be cited as the Nebraska Biodiesel Tax Credit Act.
Source
Laws 2023, LB727, § 1.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-7010 - Terms, defined.

77-7010.
Terms, defined.
For purposes of the Nebraska Biodiesel Tax Credit Act:
(1) Biodiesel means mono-alkyl esters of long chain fatty acids derived from vegetable oils or animal fats which conform to American Society for Testing and Materials D6751 specifications for use in diesel engines. Biodiesel refers to the pure fuel with less than one percent blended with diesel fuel;
(2) Department means the Department of Revenue;
(3) Motor fuel pump means a meter or similar commercial weighing and measuring device used to measure and dispense motor fuel originating from a motor fuel storage tank;
(4) Retail dealer means a person engaged in the business of storing and dispensing motor fuel from a motor fuel pump for sale on a retail basis;
(5) Retail motor fuel site means a geographic location in this state where a retail dealer sells and dispenses motor fuel from a motor fuel pump on a retail basis, including a permanent or mobile location; and
(6) Taxpayer means any natural person or any limited liability company, partnership, private domestic or private foreign corporation, or domestic or foreign nonprofit corporation certified pursuant to section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
Source
Laws 2023, LB727, § 2.
Operative Date: September 2, 2023