In 2013, Baird Holm introduced the Nebraska Job Creation and Mainstreet Revitalization Act (the “Act “), which the Nebraska Legislature enacted in 2014. The Act provides $15 million in tax credits for revitalization and rehabilitation of historically significant real property. During the current legislative session, the Legislature is considering amendments […]
Dirt Alert
2016 Interim Study Resolutions
Members of the Nebraska Legislature introduced over 100 legislative resolutions for interim studies thus far during the 2016 legislative session. Although March 29, 2016, was the last day a senator could introduce an interim study, each standing committee may introduce one additional study prior to adjournment sine die, which is […]
15 Days Left in the 2016 Legislative Session
Only 15 legislative days remain of the 2016 legislative session, and several prominent issues are still pending before the full Legislature. This Dirt Alert provides an update on the bills we are tracking related to economic development, municipal law, real estate, renewable energy, and taxation. Here is a list of the […]
The Proposed Affordable Housing Tax Credit Act Would Largely Mirror the Federal Program
LB 951 (Harr) adopts the Affordable Housing Tax Credit Act (the “Act”). For qualified projects, the State may grant an owner of affordable housing a nonrefundable income tax credit equal to the amount of federal low-income tax credits available to the project. The Act substantially mirrors the federal program, and […]
The Nebraska Legislature Considers Riverfront Development Legislation
LB 806 (Mello) adopts the Riverfront Development District Act (the “Act”). The Act would enable cities to create one or more riverfront districts to improve or develop riverfront areas and to assess an occupation tax based on a business owner’s square footage to fund the development. A quasi-municipal body, a […]