Change provisions relating to tax credits for school district taxes paid under the Nebraska Property Tax Incentive Act

This bill proposes to amend the Nebraska Property Tax Incentive Act to update how tax credits are calculated for school district taxes paid by eligible taxpayers. It establishes specific credit amounts for each year starting in 2020 and sets a formula for increasing those credits in future years based on allowable growth rates. The legislation also clarifies how businesses and other entities can claim these credits, including provisions for allocating tax payments among shareholders or partners. Although the bill outlines these changes, it was indefinitely postponed in August 2024 and is not currently in effect.