Dirt Alert

The Nebraska Department of Revenue issued guidance in June on the property tax “preference” available for qualifying historic property in the Valuation Incentive Program (“VIP”).  The preference is a temporary hold on increases in tax valuations that result from rehabilitating historic property.  The hold lasts for eight years.  After the […]

The Nebraska Legislature passed Legislative Bill 217, which amended the Affordable Housing Tax Credit Act (Nebraska Revised Statutes sections 77-2501 to 77-2507).  The amendments take effect on August 24, 2017. The Act provides affordable housing tax credits to accelerate the development of low-income and workforce housing (Laws 2016, LB 884). […]

Omaha’s City Council recently passed Nebraska’s first Property Assessed Clean Energy Act (“PACE”) ordinance.  The ordinance will allow commercial property owners to finance energy-efficiency and water-conservation improvements through special assessments.  Omaha City Council member Aimee Melton led this effort. To qualify for PACE financing, a property owner must file with […]

The Nebraska Legislature adjourned sine die on May 23, 2017.  The Legislature considered 667 bills, enacted 173, and enacted 67 additional bills via amendments to other bills.  Highlights of the session included significant debate on various budget cuts to close the projected $1 billion budget gap and a variety of […]

On April 27, 2017, Governor Ricketts signed into law Legislative Bill 535, which authorizes the use of digital or electronic signature on instruments recorded by the register of deeds under Nebraska Revised Statutes section 25-1503.01.  Although the new law should make the execution of recordable instruments more efficient, questions regarding […]