Governor Heineman approved Legislative Bill 851 on April 9, 2014. LB 851 amends the procedures for tax sales of real estate in sections 19-5217 and 77-1807 of the Nebraska Revised Statutes. The amendments include: a) an increase of three months to the time in which land banks must foreclose or […]
Dirt Alert
Enterprise Zone Act Reactivated and Modernized (LB 800)
On April 9, 2014, Governor Heineman approved Legislative Bill 800. LB 800 updates the Enterprise Zone Act and allows the Department of Economic Development (“DED”) to designate new areas as enterprise zones. The purpose of LB 800 is to encourage investment and economic growth while giving preference to projects located […]
Passage of the Nebraska State Historic Tax Credit – Nebraska Job Creation and Mainstreet Revitalization Act (LB 191)
On April 16, 2014, Governor Heineman signed Legislative Bill 191, which creates a historic tax credit at the state level to further incentivize real property owners and developers to revitalize historically significant real properties throughout Nebraska. The Nebraska historic tax credit will serve as a valuable incentive to allow Nebraska […]
Revisions to Nebraska’s C-BED Statute Incentivize New Renewable Energy Facilities (LB 402)
On April 2, 2014, Governor Heineman signed Legislative Bill 402, which will allow more renewable energy projects to use Nebraska’s Community Based Energy Development or “C-BED” statute to qualify for exemption from state sales tax. Introduced by Senator Heath Mello, LB 402 will enhance the economic development benefits of renewable […]
Nebraska Legislation Adopts Provisions of Nebraska Construction Prompt Pay Act (LB 961)
The Nebraska Legislature passed a bill to amend certain provisions of the Nebraska Construction Prompt Pay Act. Senator Heath Mello originally introduced revisions to the Prompt Pay Act as Legislative Bill 373, but the Nebraska Legislature later incorporated the provisions of LB 373 into Legislative Bill 961. The Nebraska Governor […]