Provide for the recalculation of certain base-year employees under the Nebraska Advantage Act

Nebraska bill LB 954 amends the Nebraska Advantage Act to require the Department of Revenue to recalculate a business's base-year employee count if the business sells part of its operations covered under an Advantage Act agreement and the sold operations continue operating under a separate entity. The recalculation subtracts employees from the sold operations from the original count, but only if the sold operations remain active for at least 24 months and the sale wasn't primarily to close a location. Existing tax credits or incentives from before the sale remain unchanged. This applies to Advantage Act agreements entered into after December 31, 2016, directly affecting businesses participating in Nebraska's job creation and investment incentive program.