Challenges mount to business tax incentives bill in Nebraska legislature

Legislation to enact a new business tax incentives package that would succeed the expiring Nebraska Advantage Act appears to be in some jeopardy.

The bill (LB720) may have become ensnared within the rural-urban differences that are apparent in the developing battle over property tax relief in the Legislature and it might struggle to command the 33 votes that would be required to jump a filibuster if opponents choose to try to trap it.

Failure to enact a new package in advance of next year's demise of Nebraska Advantage would send a negative signal to business leaders who usually plan new developments or expansion a couple of years or more in advance, supporters of the new proposal note.

A one-year extension of the current act remains available as a back-up legislative plan.

Nebraska Advantage is set to expire at the end of 2020.

Read more: https://journalstar.com/legislature/challenges-mount-to-business-tax-incentives-bill-in-nebraska-legislature/article_fd119b8a-06a3-587d-bf67-b2d02a9be198.html