Sunset Dates Extended for Various Provisions of Nebraska Advantage Act (LB 1067)
Governor Heineman approved Legislative Bill 1067 on April 9, 2014. LB 1067 changes provisions relating to sales and use tax refunds, extends sunset dates for tax incentives under the Nebraska Advantage Act, the Nebraska Advantage Research and Development Act, and the Nebraska Advantage Microenterprise Tax Credit Act to 2017. LB 1067 changes provisions of the Angel Investment Tax Credit Act by adding the definition of “Investment Date” and by providing operative dates. It also provides the timeline that qualified investors must follow to notify directors when they make qualified investments.
For information regarding LB 1067 and a copy of the final slip law visit the Nebraska Legislature’s website.