Lawmakers adjourned May 15, and only nine working days remain in the 2015 Legislative Session. During the past week, the Legislature had its plate full:
- It gave final approval to an $8.7 billion two-year state budget
- overrode a veto by Gov. Pete Ricketss on Legislative Bill 610 that will increase the fixed fuel tax by 1.5 cents annually over the next four years
- advanced a bill (Legislative Bill 268) to Final Reading that would repeal the death penalty
- gave first-round approval to bills that would allow young immigrants to drive in Nebraska (Legislative Bill 623)
- authorized use of medical marijuana (Legislative Bill 643)
- and deferred action Legislative Bill 586 that would protect employees from discrimination based on sexual orientation and gender identity.
Other Bills
Legislative Bill 226 – Securities Act/Crowd Funding: This legislation supported by NFIB would allow small businesses to seek start-up capital through new avenues was advanced from General File on May 14. Under LB 226, introduced by Sen. Colby Coash (Lincoln), small businesses could raise up to $2 million each year from accredited or unaccredited investors. The legislation would allow all projects attempting to raise money to proceed without registration under state and federal securities laws and would require approval from the State Department of Banking and Finance. NFIB supports enhanced opportunities for financing small business under LB 226.
Legislative Bill 259 – Personal Property Tax Relief: Nebraska businesses would receive relief from personal property taxes under LB 259, which has advanced to Final Reading. Under the bill, introduced by Sen. Mike Gloor (Grand Island), the first $10,000 of personal property would be exempted from taxation. The bill is estimated to provide an annual savings of $162 per business taxpayer and aggregate tax relief of $19.6 million. NFIB supports the property tax relief provided under LB 259.
Past Reports
