LINCOLN, Neb. (AP) – After months of negotiations, Nebraska lawmakers are set to begin debate on a new version of Gov. Pete Ricketts’ tax plan geared toward property owners and corporations.
The package will face heavy scrutiny from lawmakers in the final days of the 2018 session, despite endorsements from the state’s largest farm and business groups. Debate is scheduled for Tuesday.
Sen. Jim Smith of Papillion, who sponsored the bill on the governor’s behalf, says it’s the “last, best hope for tax relief” in this year’s session.
The bill would offer income tax credits to reimburse a small portion of what agricultural landowners and homeowners pay on their property tax bills. It also would lower the state’s top corporate income tax rate.