For the legislative week ending March 27

Date: March 27, 2015

Lawmakers adjourned for a long weekend March 26 and will return March 30 to resume debate on a constitutional amendment relating to term limits. Legislative action has slowed a bit as the body seems to be running into filibusters on an almost daily basis. During floor debate this week, extended debate occurred with respect to Legislative Bill 31 (Repeal of Motorcycle Helmet Law), which necessitated a cloture vote which failed, and on Legislative Bill 47 (Anatomical Gifts), which may ultimately be pulled from the legislative agenda.  
Priority Bills of Interest
With the deadline for designating priority bills passed, the balance of the session will involve floor debate on these prioritized measures.  Among the bills of interest to NFIB that are likely to be considered, include the following:  
Legislative Bill 156–Angel Investment Tax Credit Act: Legislation introduced by Sen. John Stinner (Gering), LB 156 would increase from $3 million to $5 million the amount of tax credits allowed annually under the Angel Investment Tax Credit Act.  (NFIB Position – Support)
Legislative Bill 226–Securities Act/Crowd Funding: Introduced by Sen. Colby Coash (Lincoln), LB 226 would exempt “crowdfunding” from registration under the Securities Act of Nebraska (issuer of the security is a business entity organized under the laws of Nebraska and authorized to do business in Nebraska, transaction meets requirements for federal exemption for interstate offerings under the Securities Act of 1933, and the sum to be received for all sales of the security, excluding sales to any accredited investor: (a) does not exceed $1 million in cases in which the issuer has not made documentation from a financial audit available to each prospective investor; or (b) $2 million if such disclosure has been made).  The bill would limit the maximum amount of sales of the security to a single purchaser to $5,000, other than purchases by accredited investors.  (NFIB Position – Support)
Legislative Bill 357–Income Taxation: Sen. Jim Smith (Papillion) has introduced legislation that would phase in reduced income tax rates from 2016 through 2024 and reduce corporate income tax rates from 2016 through 2023. The bill would also transfer $40 million from the Cash Reserve Fund to the Property Tax Credit Cash Fund for 2015 and 2016. (NFIB Position–Support)
Legislative Bill 494–Minimum Wage: LB 494, introduced by Sen. Jeremy Nordquist (Omaha), would gradually increase the state minimum wage rate for tipped employees from the current rate of $2.13 per hour to $2.35 per hour in 2015 and to $2.64 per hour in 2016. (NFIB Position – Oppose)
Legislative Bill 599–Minimum Wage: Sen. Laura Ebke (Crete) is the sponsor of legislation (LB 599) that would authorize a lower minimum wage for younger workers. As amended, the bill would retain the current minimum wage at $8 per hour for people younger than 19 who attend school and don’t have dependent children, when the overall minimum wage increases to $9 an hour next year.  (NFIB Position–Support)
Legislative Bill 259–Personal Property Tax Relief Act: Introduced by Sen. Mike Gloor (Grand Island), LB 259 would exempt the first $15,000 of depreciable tangible personal property from the Personal Property Tax and eliminate listing of tangible personal property with a value of less than $1,000 for assessment purposes.  The bill would also provide for reimbursement to counties by the state for revenues lost due to personal property tax exemption.  (NFIB Position–Support)
Past Reports

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