As if propping up the school aid formula to historic proportions wasn’t enough, the new governor appears to be getting his way in the Legislature with a package of tax changes that could cost the state more than $3 billion over the next six years. The plan would increase Nebraska’s two property tax credit programs, cap school property tax growth and eliminate almost all community college property taxes. Oh, and this bill works in concert with one that would cut the state’s top income tax rate by one-third and make other tax changes.
A measure that includes LB754 and LB243 and a whopping amendment (AM906) that becomes the bill has cleared one round of consideration on a 41-1 vote, with seven abstentions.
Albion Senator Tom Briese’s 243 would increase Nebraska’s two property tax credit programs, cap school property tax growth and eliminate almost all community college property taxes.
