STRAIGHT TALK: Tax Relief Bills Going To Hearing

On January 25 public hearings will be held on my two property tax relief bills, LB829 and LB899. If you would like to testify at the public hearing for either bill, please arrive at Hearing Room #1524 at the State Capitol Building in Lincoln by 1:30 p.m. In order to testify, you will need to fill out a short form which will be available in the hearing room. I encourage everyone who desires property tax relief and who is able to travel the long distance to come to Lincoln and testify. The Revenue Committee needs to hear your story.

LB829 is my main property tax relief bill. This bill would enact The Property Tax Relief Act, which would give most property owners a 30% reduction in their property taxes. Once passed into law, property owners would be able to get a 50% credit or refund on that portion of their property tax bill which funds K-12 education when they file their Nebraska State Income Tax Return. Should my bill fail in the Legislature, we have put into place a citizen led petition drive to ensure that this measure will appear on your ballot in the November election.

LB899 is a property tax relief bill for destroyed properties. The bill would prorate the assessed value of a home or property to the date of its destruction by fire or by some other natural disaster. For instance, a homeowner should not have to pay property taxes on the full assessed value of a home on January 1 if the home was destroyed on January 2. Instead, homeowners should only have to pay property taxes on the full assessed value of their home or property for those days when the home was intact and livable; otherwise, they should pay a reduced or adjusted property tax amount for that portion of the year when their home was destroyed.

On another note, some area business owners have brought to my attention a matter concerning the Nebraska Council for Corporations (NCC). The NCC has been sending out letters requiring businesses to submit their Annual Records Solicitation Form and to pay a fee of $150. The Annual Records Solicitation Form asks for much of the same information already required by the Domestic Corporation Occupation Tax Report, which must be filed with the Secretary of State.

I have looked into this matter with the Secretary of State’s Office. While the NCC is considered to be a legitimate organization, businesses are not required by State Statute to fill out the Annual Records Solicitation Form, nor are they required by law to pay the $150 fee. Participation with the NCC should be considered voluntary.

If you have any questions or comments about what is going on in the State Legislature, please feel free to contact my office at (402) 471-2616 or send me an e-mail at [email protected].