LB 242 Legislature · 109th Legislature (2025-2026)

Change the Property Tax Growth Limitation Act and the School District Property Tax Relief Act and change provisions relating to budget limitations, municipal occupation taxes, and property tax statements

This bill modifies Nebraska's Property Tax Growth Limitation Act and School District Property Tax Relief Act. It changes how municipalities and school districts calculate annual property tax limits by revising formulas for "allowable growth" (accounting for new construction, annexation, and inflation) and adjusting budget calculation methods. The bill also updates rules for municipal occupation taxes, property tax statements, and allows counties to retain certain funds for costs under the School District Property Tax Relief Act. These changes directly affect local governments, school districts, and county treasurers in managing property tax revenues. The bill amends specific statutes (13-518, 13-3403, etc.) but does not alter the underlying tax rates or revenue collection mechanisms.
Bill status died 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 14, 2025 Last action Apr 17, 2026
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Full legislative history

Actions timeline

Total actions
6
Key actions
0
Committee
2
Amendments
1
Apr 17, 2026
Committee
Indefinitely postponed
legislature
Jun 6, 2025
Introduced
Provisions/portions of LB242 amended into LB647 by AM1202
legislature
Jan 16, 2025
Committee
Referred to Revenue Committee
legislature
Jan 14, 2025
Introduced
Date of introduction
legislature
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Merv Riepe
Merv Riepe
NNonpartisan
NE
12