Define a term and change tax credit provisions under the Nebraska Property Tax Incentive Act

Nebraska bill LB 81 amends the Property Tax Incentive Act to clarify definitions and adjust tax credit calculations for school district and community college taxes. It defines "community college taxes" and "school district taxes" to exclude bonded indebtedness, voter-approved overrides, and five-year delinquent taxes. The bill changes how the refundable tax credit percentage is set, requiring the Department of Revenue to cap total credits at specific dollar amounts for 2022-2023 and link 2024 credits to the state's assessed property value growth rate. This directly affects taxpayers (individuals and businesses) who pay eligible school district or community college taxes, allowing them to claim credits against state income or franchise tax. The changes repeal prior sections and take effect immediately upon passage.