The Nebraska Legislature recently amended the Job Creation and Mainstreet Revitalization Act (the “Act”).[1] These amendments reinstated the program, which had sunset on December 31, 2022, allowing the Act to continue to incentivize the restoration of Nebraska’s historic properties. However, important changes in program caps will impact the program in […]
Dirt Alert
108th Nebraska Legislator, First Session – End of Session Legislative Chart
The First Regular Session of the 108th Nebraska Legislature convened on January 4, 2023. The Legislature adjourned sine die on June 1, 2023. In our updates during bill introduction (available here and here), we identified 91 bills warranting particular attention. Below is an updated chart of those bills. Summaries of how select […]
NEBRASKA SUPREME COURT: TERC MAY CHOOSE DIFFERENT VALUATION METHOD THAN STATUTE REQUIRES FOR SECTION 42 RENT-RESTRICTED HOUSING PROJECTS
Lincoln Cnty. Bd. of Equalization v. W. Tabor Ranch Apartments, LLC, 314 Neb. 582 (2023) To calculate real property taxes, county assessors must appraise the underlying real estate at its “actual value.” Neb. Rev. Stat. § 77-201(1). Actual value is “the market value of real property in the ordinary course […]
A Long, Hard Road—Nebraska State Legislative Tax Update
Nebraska’s 2023 Legislative Session—Slow Going The 2023 Nebraska Unicameral Legislative Session attracted national attention on more than one occasion due to controversial bills, debates, and comments from senators. One senator’s statement that she would “burn the session to the ground”[1] over a controversial bill foretold of difficulties to come. Though […]
USDA ANNOUNCES $10 BILLION INVESTMENT IN RURAL RENEWABLE ENERGY PROJECTS
The U.S. Department of Agriculture (“USDA”) recently announced that it will distribute up to $10.7 billion in loans and grants for rural electric utilities to implement renewable energy projects. This money could drive renewable energy investment throughout Nebraska. The New Empowering Rural America program (“New ERA”) makes up the majority […]