Section 77-201 of the Nebraska Revised Statutes directs county assessors to assess all real property in Nebraska at its actual value for taxation purposes. Section 77-1359 carved an exception into that language, directing county assessors to assess agricultural land at seventy-five percent of its market value. This drove down the […]
Dirt Alert
Nebraska Supreme Court: Takings Clause is a Plausible Avenue for Property Owners Regarding Tax Sales
Nieveen v. TAX 106, 317 Neb. 425 (2024) and Cont’l Res. v. Fair, 317 Neb. 391 (2024) Under Nebraska’s tax sale statutes, a county takes an automatic lien on property within its jurisdiction for property taxes. If a taxpayer is delinquent in paying property taxes, the county can sell the lien through a […]
Nebraska Legislature Adjourns Special Session after Passing Property Tax Reform Bill
On August 20, 2024, the Nebraska Legislature adjourned sine die. This came nearly a month after Governor Jim Pillen called a Special Session “to fix the state’s property tax crisis.” During the Special Session, senators introduced 81 bills and 24 constitutional amendments. Several measures would have significantly impacted renewable-energy development. […]
President Biden Signs Nuclear Energy Bill into Law
On July 9, 2024, President Biden signed into law the Accelerating Deployment of Versatile, Advanced Nuclear Clean Energy Act (the “Act”). The Act had significant bipartisan support. It reflects lawmakers’ goals to (1) streamline nuclear licensing procedures and regulation, (2) spur development of nuclear technologies, and (3) preserve existing nuclear generation. We summarize […]
IRS Updates Its Reporting Requirements for Carbon Capture and Storage Tax Credits
Section 45Q of the Federal Tax Code provides a tax credit for carbon capture and storage (“CCS”) projects. Eligible CCS owners can claim a base credit of $17 per metric ton of sequestered carbon dioxide (or $36 for direct‑air‑capture technology). That credit can increase to $85 per metric ton (or […]