Nebraska Lawmakers to Study Tax Relief During Break

By: 1011 News Email
By: 1011 News Email

LINCOLN, Neb. (AP) -- After providing more than $400 million in tax relief for Nebraskans this session, lawmakers are still looking at changes to the state's tax structure.

The Legislature's Revenue Committee will study various tax issues over the interim period.

During the session that ended Thursday, the Legislature approved $412 million in tax relief over the next five years through bills that index income tax brackets, provide exemptions for farm equipment parts and place an additional $25 million annually into the state's property tax credit program, among other measures.

One interim study will look at how Nebraska determines the taxable value of agricultural land and compare Nebraska's process to other states.

The Revenue Committee will also look at how Nebraska's income tax system compares to other states' income tax systems.

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