reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5714 - Number of new employees, defined.

77-5714.
Number of new employees, defined.
(1) Number of new employees, for a tier 1, tier 2, tier 3, or tier 4 project, means the number of equivalent employees that are employed at the project during a year that are in excess of the number of equivalent employees during the base year, not to exceed the number of equivalent employees employed at the project during a year who are not base-year employees and who are paid wages at a rate equal to at least sixty percent of the Nebraska average weekly wage for the year of application.
(2) Number of new employees, for a tier 6 project, means the number of equivalent employees that are employed at the project during a year that are in excess of the number of equivalent employees during the base year, not to exceed the number of equivalent employees employed at the project during a year who are not base-year employees and who are paid at a rate equal to or greater than the tier 6 weekly required compensation for the year of application.
(3) Teleworkers working for wages or salaries in Nebraska from their residences for a taxpayer on tasks interdependent with the work performed at the project shall be considered to be employed at the project.
(4) Employees who work at a military installation in Nebraska for a taxpayer on tasks interdependent with the work performed at the project shall be considered to be employed at the project.
Source
Laws 2005, LB 312, § 36;
Laws 2008, LB895, § 11;
Laws 2009, LB164, § 3.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5716 - Qualified employee leasing company, defined.

77-5716.
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 2005, LB 312, § 38.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5717 - Qualified property, defined.

77-5717.
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 Nebraska Advantage Act to another person. Qualified property of the taxpayer located at the residence of a teleworker 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 2005, LB 312, § 39.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5718 - Related persons, defined.

77-5718.
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 2005, LB 312, § 40.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5719 - Taxpayer, defined.

77-5719.
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 2005, LB 312, § 41;
Laws 2006, LB 1003, § 12;
Laws 2007, LB368, § 139;
Laws 2010, LB918, § 3;
Laws 2013, LB34, § 4.
Cross References
Nebraska Revenue Act of 1967, see section 77-2701.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5719.01 - Tier 6 weekly required compensation, defined.

77-5719.01.
Tier 6 weekly required compensation, defined.
Tier 6 weekly required compensation means two hundred percent of the county average weekly wage for the county in which the project is located or one hundred fifty percent of the state average weekly wage, whichever is higher. If the project is located in more than one county, the higher county average weekly wage shall be used to determine the tier 6 weekly required compensation.
Source
Laws 2008, LB895, § 13.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5722 - Qualified employee leasing company; employees; duty.

77-5722.
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 Nebraska Advantage Act 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 2005, LB 312, § 44.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5722.01 - Employees; verification of status required; exclusion.

77-5722.01.
Employees; verification of status required; exclusion.
(1) The Tax Commissioner shall not approve or grant to any person any tax incentive under the Nebraska Advantage Act unless the taxpayer provides evidence satisfactory to the Tax Commissioner 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 under the act, the Tax Commissioner 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.
(3) This section does not apply to any application filed under the Nebraska Advantage Act prior to October 1, 2009.
Source
Laws 2009, LB403, § 11.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5724 - Incentives; credits or benefits; limitation.

77-5724.
Incentives; credits or benefits; limitation.
The following transactions or activities shall not create any credits or allow any benefits under the Nebraska Advantage 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 project 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 2005, LB 312, § 46.
Cross References
Ethanol Development Act, see section 66-1330.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5728 - Incentives; transfer; when; effect; disclosure of information.

77-5728.
Incentives; transfer; when; effect; disclosure of information.
(1) The incentives allowed under the Nebraska Advantage Act shall not be transferable except in the following situations:
(a) 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, members, shareholders, patrons, or beneficiaries in the same manner as income is distributed for use against their income tax liabilities, and such partners, members, shareholders, or beneficiaries shall be deemed to have made an underpayment of their income taxes for any recapture required by section 77-5727. A credit distributed shall be considered a credit used and the partnership, limited liability company, subchapter S corporation, cooperative, including a cooperative exempt under section 521 of the Internal Revenue Code of 1986, as amended, a limited cooperative association, estate, or trust shall be liable for any repayment required by section 77-5727; and
(b) The incentives previously allowed and the future allowance of incentives may be transferred when a project covered by an agreement is transferred in its entirety 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.
(2) The acquiring taxpayer, as of the date of notification of the Tax Commissioner of the completed transfer, shall be entitled to any unused credits and to any future incentives allowable under the act.
(3) The acquiring taxpayer shall be liable for any recapture that becomes due after the date of the transfer for the repayment of any benefits received either before or after the transfer.
(4) If a taxpayer operating a project and allowed a credit under the act dies and there is a credit remaining after the filing of the final return for the taxpayer, the personal representative shall determine the distribution of the credit or any remaining carryover 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 Tax Commissioner.
(5) The Department of Revenue may disclose information to the acquiring taxpayer about the project and prior benefits that is reasonably necessary to determine the future incentives and liabilities of the project.
Source
Laws 2005, LB 312, § 50;
Laws 2006, LB 1003, § 16;
Laws 2007, LB368, § 140;
Laws 2013, LB34, § 8.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5734 - Department of Revenue; estimate of sales and use tax refunds; duties.

77-5734.
Department of Revenue; estimate of sales and use tax refunds; duties.
The Department of Revenue shall, on or before the fifteenth day of October and February of every year and the fifteenth day of April in odd-numbered years, make an estimate of the amount of sales and use tax refunds to be paid under the Nebraska Advantage Act during the fiscal years to be forecast under section 77-27,158. The estimate shall be based on the most recent data available, including pending and approved applications and updates thereof as are required by subdivisions (2)(e) and (6)(e) of section 77-5723. The estimate shall be forwarded to the Legislative Fiscal Analyst and the Nebraska Economic Forecasting Advisory Board and made a part of the advisory forecast required by section 77-27,158.
Source
Laws 2005, LB 312, § 56;
Laws 2013, LB34, § 10.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5801 - Act, how cited.

77-5801.
Act, how cited.
Sections 77-5801 to 77-5808 shall be known and may be cited as the Nebraska Advantage Research and Development Act.
Source
Laws 2005, LB 312, § 59;
Laws 2009, LB403, § 12;
Laws 2014, LB836, § 4.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5802 - Business firm, defined.

77-5802.
Business firm, defined.
For purposes of the Nebraska Advantage Research and Development Act, business firm means any business entity, including a corporation, a fiduciary, a sole proprietorship, a partnership, a joint venture, a limited liability company, or another private entity, that is subject to sales tax under section 77-2703. Business firm 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.
Source
Laws 2005, LB 312, § 60.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5803 - Research tax credit; amount.

77-5803.
Research tax credit; amount.
(1)(a) Except as provided in subdivision (1)(b) of this section, any business firm which makes expenditures in research and experimental activities as defined in section 174 of the Internal Revenue Code of 1986, as amended, in this state shall be allowed a research tax credit as provided in the Nebraska Advantage Research and Development Act. The credit amount under this subdivision shall equal fifteen percent of the federal credit allowed under section 41 of the Internal Revenue Code of 1986, as amended, or as apportioned to this state under subsection (2) of this section. The credit shall be allowed for the first tax year it is claimed and for each tax year following.
(b) Any business firm which makes expenditures in research and experimental activities as defined in section 174 of the Internal Revenue Code of 1986, as amended, on the campus of a college or university in this state or at a facility owned by a college or university in this state shall be allowed a research tax credit as provided in the Nebraska Advantage Research and Development Act. The credit amount under this subdivision shall equal thirty-five percent of the federal credit allowed under section 41 of the Internal Revenue Code of 1986, as amended, or as apportioned to this state under subsection (2) of this section. The credit shall be allowed for the first tax year it is claimed and for each tax year following.
(2) For any business firm doing business both within and without this state, the amount of the credit may be determined either by dividing the amount expended in research and experimental activities in this state in any tax year by the total amount expended in research and experimental activities or by apportioning the amount of the credit on the federal income tax return to the state based on the average of the property factor as determined in section 77-2734.12 and the payroll factor as determined in section 77-2734.13.
Source
Laws 2005, LB 312, § 61;
Laws 2007, LB223, § 31;
Laws 2008, LB915, § 7;
Laws 2009, LB555, § 1;
Laws 2012, LB983, § 1;
Laws 2023, LB727, § 95.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5804 - Research tax credit; use; interest.

77-5804.
Research tax credit; use; interest.
(1) The credit allowed under section 77-5803 may be used to obtain a refund of state sales and use taxes paid, may be used against the income tax liability of the taxpayer, or may be used as a refundable credit claimed on an income tax return of the taxpayer. The return need not reflect any income tax liability owed by the taxpayer.
(2) A claim for the credit may be filed quarterly for refund of the state sales and use taxes paid, either directly or indirectly, after the filing of the income tax return for the tax year in which the credit was first allowed.
(3) The credit may be used to obtain a refund of state sales and use taxes paid before the end of the tax year for which the credit was allowed, except that the amount refunded under this subsection shall not exceed the amount of the state sales and use taxes paid, either directly or indirectly, by the taxpayer on the qualifying expenditures.
(4) Credits distributed to a partner, limited liability company member, shareholder, or beneficiary may be used against the income tax liability of the partner, member, shareholder, or beneficiary receiving the credits.
(5) Interest shall not be allowed on any taxes refunded under the Nebraska Advantage Research and Development Act.
Source
Laws 2005, LB 312, § 62;
Laws 2009, LB164, § 9.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5805 - Building materials; sales or use tax; presumption.

77-5805.
Building materials; sales or use tax; presumption.
For purposes of subsections (2) and (3) of section 77-5804, the taxpayer shall be deemed to have paid indirectly any state sales or use taxes paid by a contractor on building materials annexed to an improvement to real estate built for the taxpayer. The contractor shall certify to the taxpayer the amount of the state sales and use taxes paid on the building materials, or the taxpayer, with the permission of the Tax Commissioner and a certification from the contractor that state sales and use taxes were paid on all building materials, may presume that forty percent of the cost of the improvement was for building materials annexed to real estate on which the tax was paid.
Source
Laws 2005, LB 312, § 63.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5806 - Applicability of act.

77-5806.
Applicability of act.
The Nebraska Advantage Research and Development Act shall be operative for all tax years beginning or deemed to begin on or after January 1, 2006, under the Internal Revenue Code of 1986, as amended. No business firm shall be allowed to first claim the credit for any tax year beginning or deemed to begin after December 31, 2033, under the Internal Revenue Code of 1986, as amended.
Source
Laws 2005, LB 312, § 64;
Laws 2009, LB164, § 10;
Laws 2014, LB1067, § 3;
Laws 2015, LB538, § 14;
Laws 2016, LB1022, § 10;
Laws 2023, LB727, § 96.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5807 - Report; contents; joint hearing.

77-5807.
Report; contents; joint hearing.
No later than October 31 of each year, the Tax Commissioner shall prepare a report stating the total amount of credits claimed on income tax returns or as refunds of sales and use tax during the previous fiscal year. The report shall be on a fiscal year, accrual basis that satisfies the requirements set by the Governmental Accounting Standards Board. The Department of Revenue shall, on or before December 15 of each even-numbered year, appear at a joint hearing of the Appropriations Committee of the Legislature and the Revenue Committee of the Legislature and present the report. Any supplemental information requested by three or more committee members shall be presented within thirty days after the request. No information shall be provided in the report that is protected by state or federal confidentiality laws.
Source
Laws 2005, LB 312, § 65;
Laws 2013, LB612, § 8;
Laws 2022, LB1150, § 14.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5808 - Employees; verification of status required, when; research tax credit; calculation.

77-5808.
Employees; verification of status required, when; research tax credit; calculation.
(1) This subsection shall apply for tax years beginning or deemed to begin on or after January 1, 2009, and before January 1, 2023. The Tax Commissioner shall not approve or grant to any person any tax incentive under the Nebraska Advantage Research and Development Act unless the taxpayer provides evidence satisfactory to the Tax Commissioner that the taxpayer electronically verified the work eligibility status of newly hired employees employed in Nebraska.
(2) This subsection shall apply for tax years beginning or deemed to begin on or after January 1, 2023. When calculating the research tax credit as provided in the Nebraska Advantage Research and Development Act, the qualified research expenses claimed in computing the federal credit allowed under section 41 of the Internal Revenue Code of 1986, as amended, shall be adjusted to the extent the taxpayer includes, in such qualified research expenses, compensation paid to an employee of such taxpayer hired during or after the first tax year for which the Nebraska Advantage Research and Development Act credit is claimed by such firm and to the extent such compensation is subject to Nebraska income tax. Such compensation, for the tax year in which the credit is being claimed, shall be deducted from the taxpayer's qualified research expenses unless such employee was verified as eligible to work in the United States using the federal E-Verify system within ninety days after the date of hire of such employee or such longer period as may be permitted under the rules of the federal E-Verify system. Such verification may be performed by the taxpayer or by someone on the taxpayer's behalf.
Source
Laws 2009, LB403, § 13;
Laws 2023, LB727, § 97.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5901 - Act, how cited.

77-5901.
Act, how cited.
Sections 77-5901 to 77-5908 shall be known and may be cited as the Nebraska Advantage Microenterprise Tax Credit Act.
Source
Laws 2005, LB 312, § 66;
Laws 2009, LB403, § 14.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5902 - Act; administration; purpose.

77-5902.
Act; administration; purpose.
The Nebraska Advantage Microenterprise Tax Credit Act shall be administered by the Department of Revenue. The purpose of the act is to provide tax credits to applicants for creating or expanding microbusinesses that contribute to the state's economy through the creation of new or improved income, self-employment, or other new jobs.
Source
Laws 2005, LB 312, § 67;
Laws 2017, LB217, § 24.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5904 - Tax credit; application; contents; advisory committee.

77-5904.
Tax credit; application; contents; advisory committee.
(1) The Department of Revenue shall accept applications for tax credits from taxpayers who are actively engaged in the operation of a microbusiness or who will establish a microbusiness that they will actively operate within the current or subsequent tax year. Applications shall be filed by November 1 and shall be complete by December 1 of each calendar year. Any application that is filed after November 1 or that is not complete on December 1 shall be considered to be filed during the following calendar year.
(2) The department may convene an advisory committee of individuals with expertise in small business development, lending, and community development to evaluate applications and advise the department in authorizing tentative tax credits.
(3) The application shall be on a form developed by the department and shall contain:
(a) A description of the microbusiness;
(b) The projected income and expenditures;
(c) The market to be served by the microbusiness and the way the expansion addresses the market;
(d) The amount of projected investment or employment increase that would generate the credit;
(e) The projected improvement in income or creation of new self-employment or other jobs;
(f) The nature of the applicant's engagement in the operation of the microbusiness; and
(g) Other documents, plans, and specifications as required by the department.
Source
Laws 2005, LB 312, § 69;
Laws 2007, LB223, § 32;
Laws 2017, LB217, § 26.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5905 - Applications; approval; limit.

77-5905.
Applications; approval; limit.
(1) If the Department of Revenue determines that an application meets the requirements of section 77-5904 and that the investment or employment is eligible for the credit and (a) the applicant is actively engaged in the operation of the microbusiness or will be actively engaged in the operation upon its establishment, (b) the applicant will make new investment or employment in the microbusiness, and (c) the new investment or employment will create new income or jobs, the department shall approve the application and authorize tentative tax credits to the applicant within the limits set forth in this section and certify the amount of tentative tax credits approved for the applicant. Applications for tax credits shall be considered in the order in which they are received.
(2) The department may approve applications up to the adjusted limit for each calendar year beginning January 1, 2006, through December 31, 2032. After applications totaling the adjusted limit have been approved for a calendar year, no further applications shall be approved for that year. The adjusted limit in a given year is two million dollars plus tentative tax credits that were not granted by the end of the preceding year. Tax credits shall not be allowed for a taxpayer receiving benefits under the Employment and Investment Growth Act, the Nebraska Advantage Act, the Nebraska Advantage Rural Development Act, the ImagiNE Nebraska Act, or the Urban Redevelopment Act.
Source
Laws 2005, LB 312, § 70;
Laws 2009, LB164, § 11;
Laws 2014, LB1067, § 4;
Laws 2015, LB538, § 15;
Laws 2016, LB1022, § 11;
Laws 2017, LB217, § 27;
Laws 2020, LB1107, § 138;
Laws 2021, LB366, § 2;
Laws 2021, LB544, § 34.
Cross References
Employment and Investment Growth Act, see section 77-4101.
ImagiNE Nebraska Act, see section 77-6801.
Nebraska Advantage Act, see section 77-5701.
Nebraska Advantage Rural Development Act, see section 77-27,187.
Urban Redevelopment Act, see section 77-6901.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5906 - Tax credit; amount; claim; expiration; interest.

77-5906.
Tax credit; amount; claim; expiration; interest.
(1) Taxpayers shall be entitled to refundable tax credits for the taxpayer's new investment or new employment in the microbusiness during the tax year. The tax credits shall be equal to:
(a) Twenty percent of the taxpayer's new investment; and
(b) Twenty percent of the taxpayer's new employment.
(2) The total amount of tax credits shall not exceed the amount of tentative tax credits approved by the department under section 77-5905.
(3) The taxpayer shall claim the tax credit by filing a form developed by the Tax Commissioner and attaching the tentative tax credit certification granted by the department. Tentative tax credits expire after the end of the tax year following the year the tentative tax credit was certified.
(4) The total lifetime tax credits claimed by any one taxpayer and any related person under the Nebraska Advantage Microenterprise Tax Credit Act shall be limited to twenty thousand dollars.
(5) Interest shall not be allowed on any taxes refunded under the act.
(6) The changes made to this section by Laws 2021, LB366, shall apply to all applications for benefits received on or after August 28, 2021.
Source
Laws 2005, LB 312, § 71;
Laws 2009, LB164, § 12;
Laws 2021, LB366, § 3.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5907 - Report; contents; joint hearing.

77-5907.
Report; contents; joint hearing.
(1) The Tax Commissioner shall prepare a report identifying the following aggregate amounts for the previous fiscal year: (a) The amount of projected employment and investment anticipated by taxpayers receiving tentative tax credits and the tentative tax credits granted; (b) the actual amount of employment and investment made by taxpayers that were granted tentative tax credits in the previous fiscal year; (c) the tax credits used; and (d) the tentative tax credits that expired. The report shall be issued on or before October 31 of each year. The report shall be on a fiscal year, accrual basis that satisfies the requirements set by the Governmental Accounting Standards Board. The Department of Revenue shall, on or before December 15 of each even-numbered year, appear at a joint hearing of the Appropriations Committee of the Legislature and the Revenue Committee of the Legislature and present the report. Any supplemental information requested by three or more committee members shall be presented within thirty days after the request.
(2) Beginning with applications filed on or after August 28, 2021, the report shall provide information on project-specific total credits used every two years for each approved application and shall disclose (a) the identity of the taxpayer, (b) the location or locations where the taxpayer is earning credits, (c) the new investment or new employment that was actually produced by the taxpayer to earn credits, and (d) the total credits used during the immediately preceding two years, expressed as a single, aggregated total.
(3) No information shall be provided in the report that is protected by state or federal confidentiality laws.
Source
Laws 2005, LB 312, § 72;
Laws 2013, LB612, § 9;
Laws 2021, LB366, § 4;
Laws 2022, LB1150, § 15.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-5908 - Employees; verification of status required; exclusion.

77-5908.
Employees; verification of status required; exclusion.
(1) The Tax Commissioner shall not approve or grant to any person any tax incentive under the Nebraska Advantage Microenterprise Tax Credit Act unless the taxpayer provides evidence satisfactory to the Tax Commissioner 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 Tax Commissioner shall exclude the hours worked and compensation paid to an employee that is not eligible to work in Nebraska as verified under subsection (1) of this section.
(3) This section does not apply to any application filed under the act prior to October 1, 2009.
Source
Laws 2009, LB403, § 15.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6101 - Act, how cited.

77-6101.
Act, how cited.
Sections 77-6101 to 77-6106 shall be known and may be cited as the Long-Term Care Savings Plan Act.
Source
Laws 2006, LB 965, § 1;
Laws 2016, LB756, § 2.
Termination Date: January 1, 2018
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6102 - Terms, defined.

77-6102.
Terms, defined.
For purposes of the Long-Term Care Savings Plan Act:
(1) Long-term care expense means the cost of long-term care in a long-term care facility and the cost of care provided in a person's home when the person receiving the care is unable to perform multiple basic life functions independently;
(2) Long-term care insurance premiums means premiums paid for a long-term care insurance policy issued pursuant to the Long-Term Care Insurance Act that offers coverage to the individual, the individual's spouse, or another person for whom the taxpayer has an insurable interest;
(3) Participant means an individual who has entered into a participation agreement or established an account with a financial institution with which the State Treasurer has an agreement under subsection (1) of section 77-6103; and
(4) Qualified individual means (a) a person who incurred long-term care expenses during the taxable year or (b) a person who turned fifty years of age or older during the taxable year who made payments for long-term care insurance premiums during the taxable year.
Source
Laws 2006, LB 965, § 2;
Laws 2007, LB304, § 1.
Termination Date: January 1, 2018
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6103 - Nebraska long-term care savings plan; created; State Treasurer; powers and duties; participation agreement.

77-6103.
Nebraska long-term care savings plan; created; State Treasurer; powers and duties; participation agreement.
(1) The Nebraska long-term care savings plan is created. The State Treasurer shall select the administrator of the plan. If the State Treasurer receives no acceptable responses to a request for proposals for an administrator for the plan by November 1, 2006, the State Treasurer may enter into agreements with state-chartered or federally chartered banks, savings banks, building and loan associations, savings and loan associations, or credit unions, or a subsidiary of any such entity, to receive contributions in the form of account deposits. The State Treasurer may adopt and promulgate rules and regulations to carry out its duties under this subsection.
(2) If an administrator is selected, participants shall enter into participation agreements with the State Treasurer, and if an administrator is not selected, participants may make contributions to an account with a financial institution with which the State Treasurer has an agreement under subsection (1) of this section. A lifetime maximum of one hundred sixty-five thousand dollars may be contributed by a participant. This dollar limitation shall be adjusted for inflation by the method provided in section 151 of the Internal Revenue Code of 1986, as amended.
(3) Each participation agreement shall provide that the agreement may be canceled or transferred to a spouse upon the terms and conditions set by the State Treasurer. If the participation agreement is canceled or the Nebraska long-term care savings plan is terminated, a participant may receive the principal amount of all contributions made by the participant or on behalf of the participant plus the actual investment earnings on the contributions, less any losses incurred on the contributions. A participant shall not receive more than the fair market value of his or her account under the participation agreement on the applicable liquidation date.
(4) A participant retains ownership of all contributions up to the date of utilization.
(5) State income tax treatment of contributions and investment earnings shall be as provided in section 77-2716.
Source
Laws 2006, LB 965, § 3.
Termination Date: January 1, 2018
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6104 - Nebraska long-term care savings plan trust; created; State Treasurer; state investment officer; duties.

77-6104.
Nebraska long-term care savings plan trust; created; State Treasurer; state investment officer; duties.
If an administrator for the Nebraska long-term care savings plan is selected pursuant to section 77-6103, the Nebraska long-term care savings plan trust shall be created. The State Treasurer shall be the trustee of the trust and as such responsible for the administration, operation, and maintenance of the plan and shall have all powers necessary to carry out and effectuate the purposes, objectives, and provisions of the Long-Term Care Savings Plan Act pertaining to the administration, operation, and maintenance of the trust, except that the state investment officer shall have fiduciary responsibility to make all decisions regarding the investment of the money in the trust, including the selection of all investment options and the approval of all fees and other costs charged to trust assets except costs for administration, operation, and maintenance of the trust, pursuant to the directions, guidelines, and policies established by the Nebraska Investment Council. The State Treasurer may adopt and promulgate rules and regulations to provide for the efficient administration, operation, and maintenance of the trust. The State Treasurer shall not adopt and promulgate rules and regulations that in any way interfere with the fiduciary responsibility of the state investment officer to make all decisions regarding the investment of money in the trust. The Nebraska Investment Council may adopt and promulgate rules and regulations to provide for the prudent investment of the assets of the trust. The council or its designee also has the authority to select and enter into agreements with individuals and entities to provide investment advice and management of the assets held by the trust, establish investment guidelines, objectives, and performance standards with respect to the assets held by the trust, and approve any fees, commissions, and expenses which directly or indirectly affect the return on assets.
Source
Laws 2006, LB 965, § 4.
Termination Date: January 1, 2018
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6105 - Qualified individual; withdrawals authorized.

77-6105.
Qualified individual; withdrawals authorized.
A qualified individual as defined in subdivision (4)(a) of section 77-6102 may make withdrawals as a participant in the Nebraska long-term care savings plan to pay or reimburse long-term care expenses. A qualified individual as defined in subdivision (4)(b) of section 77-6102 may make withdrawals to pay or reimburse long-term care insurance premiums. Any participant who is not a qualified individual or who makes a withdrawal for any reason other than transfer of funds to a spouse, long-term care expenses, long-term care insurance premiums, death of the participant, or termination of the Long-Term Care Savings Plan Act shall be subject to a ten-percent penalty on the amount withdrawn. The State Treasurer shall collect the penalty.
Source
Laws 2006, LB 965, § 5;
Laws 2007, LB304, § 2;
Laws 2016, LB756, § 3.
Termination Date: January 1, 2018
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6106 - Long-Term Care Savings Plan Act; termination; participant; entitled to account balance.

77-6106.
Long-Term Care Savings Plan Act; termination; participant; entitled to account balance.
The Long-Term Care Savings Plan Act terminates on January 1, 2018. Any participant in the Nebraska long-term care savings plan on the termination date shall be entitled to receive the full balance of his or her account on such date.
Source
Laws 2016, LB756, § 4.
Termination Date: January 1, 2018
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6201 - Legislative findings and declarations.

77-6201.
Legislative findings and declarations.
The Legislature finds and declares:
(1) The purpose of the nameplate capacity tax levied under section 77-6203 is to replace property taxes currently imposed on renewable energy infrastructure and depreciated over a short period of time in a way that causes local budgeting challenges and increases upfront costs for renewable energy developers;
(2) The nameplate capacity tax should be competitive with taxes imposed directly and indirectly on renewable energy generation and development in other states;
(3) The nameplate capacity tax should be fair and nondiscriminatory when compared with other taxes imposed on other industries in the state; and
(4) The nameplate capacity tax should not be singled out as a source of General Fund revenue during times of economic hardship.
Source
Laws 2010, LB1048, § 12;
Laws 2015, LB424, § 4.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6202 - Terms, defined.

77-6202.
Terms, defined.
For purposes of sections 77-6201 to 77-6204:
(1) Commissioned means the renewable energy generation facility has been in commercial operation for at least twenty-four hours. A renewable energy generation facility is not in commercial operation unless the renewable energy generation facility is connected to the electrical grid or to the end user if the renewable energy generation facility is a customer-generator as defined in section 70-2002;
(2) Nameplate capacity means the capacity of a renewable energy generation facility to generate electricity as measured in megawatts, including fractions of a megawatt. Nameplate capacity shall be determined based on the facility's alternating current capacity; and
(3) Renewable energy generation facility means (a) a facility that generates electricity using wind as the fuel source or (b) a facility that generates electricity using solar, biomass, or landfill gas as the fuel source if such facility was installed on or after January 1, 2016, and has a nameplate capacity of one hundred kilowatts or more.
Source
Laws 2010, LB1048, § 13;
Laws 2015, LB424, § 5;
Laws 2020, LB76, § 1.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6204 - County treasurer; distribute revenue; calculation.

77-6204.
County treasurer; distribute revenue; calculation.
(1) The county treasurer shall distribute all revenue received from the Department of Revenue pursuant to section 77-6203 to local taxing entities which, but for such personal property tax exemption, would have received distribution of personal property tax revenue from depreciable personal property used directly in the generation of electricity using wind, solar, biomass, or landfill gas as the fuel source.
(2) A local taxing entity's status as eligible for distribution under subsection (1) of this section shall not be affected when and if the net book value of personal property used directly in the generation of electricity using wind, solar, biomass, or landfill gas as the fuel source becomes zero. A local taxing entity's status as eligible for distribution under such subsection shall be affected by the disposal of all of the exempt depreciable personal property used directly in the generation of electricity using wind, solar, biomass, or landfill gas as the fuel source.
(3) The distribution to each eligible local taxing entity shall be calculated by determining the amount of taxes that the eligible local taxing entity levied during the taxable year and dividing this amount by the total tax levied by all of the eligible local taxing entities during the year. Each eligible entity's resulting fraction shall then be multiplied by the revenue distributed to the county treasurer by the department to determine the portion of such revenue due each local taxing entity.
(4) The Department of Revenue shall not retain any revenue collected pursuant to sections 77-6201 to 77-6204 for distribution, use, transfer, pledge, or allocation to or from the General Fund.
Source
Laws 2010, LB1048, § 15;
Laws 2015, LB424, § 7.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6301 - Act, how cited.

77-6301.
Act, how cited.
Sections 77-6301 to 77-6310 shall be known and may be cited as the Angel Investment Tax Credit Act.
Source
Laws 2011, LB389, § 1;
Laws 2014, LB836, § 6.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6301.01 - Legislative findings.

77-6301.01.
Legislative findings.
The Legislature hereby finds and declares that it is the policy of this state to make revisions in Nebraska's tax structure in order to encourage entrepreneurship and to increase investment in high technology industries in underserved areas of Nebraska.
Source
Laws 2014, LB836, § 7.
2023 Nebraska Revised Statutes › Chapter 77 - Revenue and Taxation › 77-6302 - Terms, defined.

77-6302.
Terms, defined.
For purposes of the Angel Investment Tax Credit Act:
(1) Director means the Director of Economic Development;
(2) Family member means a family member within the meaning of section 267(c)(4) of the Internal Revenue Code of 1986, as amended;
(3) Investment date means the latest of the following:
(a) The date of a fully executed investor subscription agreement or underlying transaction document pertaining to the applicable qualified investment;
(b) The date on a check made out to a qualified small business for the applicable qualified investment or the date a wire transfer is completed for the applicable qualified investment; or
(c) The date the qualified small business deposits a check made out to such qualified small business for the applicable qualified investment or receives a wire transfer for the applicable qualified investment, as documented on the deposit slip or bank statement of the qualified small business;
(4) Pass-through entity means an organization that for the applicable taxable year is a subchapter S corporation, general partnership, limited partnership, limited liability partnership, trust, or limited liability company and that for the applicable taxable year is not taxed as a corporation;
(5) Qualified fund means a fund that has been certified by the director under section 77-6304;
(6) Qualified high-technology field includes, but is not limited to, aerospace, agricultural processing, renewable energy, energy efficiency and conservation, environmental engineering, food technology, cellulosic ethanol, information technology, materials science technology, nanotechnology, telecommunications, biosolutions, medical device products, pharmaceuticals, diagnostics, biologicals, chemistry, veterinary science, and similar fields;
(7) Qualified investment means a cash investment in a qualified small business made in exchange for common stock, a partnership or membership interest, preferred stock, debt with mandatory conversion to equity, or an equivalent ownership interest as determined by the director of a minimum of:
(a) Twenty-five thousand dollars in a calendar year by a qualified investor; or
(b) Fifty thousand dollars in a calendar year by a qualified fund;
(8) Qualified investor means an individual, trust, or pass-through entity which has been certified by the director under section 77-6305; and
(9) Qualified small business means a business that has been certified by the director under section 77-6303.
Source
Laws 2011, LB389, § 2;
Laws 2014, LB1067, § 5;
Laws 2017, LB217, § 28.