Tax Incentives Home | Rural Development Information
Sections 77-27,187 to 77-27,195 shall be known and may be cited as the Nebraska Advantage Rural Development Act.
Source:
Laws 1986, LB 1124, § 1;
Laws 1987, LB 270, § 1;
Laws 1997, LB 886, § 1;
Laws 1998, LB 1104, § 14;
Laws 2002, LB 93, § 19;
Laws 2003, LB 608, § 1;
Laws 2005, LB 312, § 16.
For purposes of the Nebraska Advantage Rural Development Act, unless the context otherwise requires:
(1) Any term has the same meaning as used in the Nebraska Revenue Act of 1967;
(2) Equivalent employees means the number of employees computed by dividing the total hours paid in a year to employees by the product of forty times the number of weeks in a year;
(3) Livestock means all animals, including cattle, horses, sheep, goats, hogs, chickens, turkeys, and other species of game birds and animals raised and produced subject to permit and regulation by the Game and Parks Commission or the Department of Agriculture;
(4) Livestock modernization or expansion means the construction, improvement, or acquisition of buildings, facilities, or equipment for livestock housing, confinement, feeding, production, and waste management;
(5) Livestock production means the active use, management, and operation of real and personal property for the commercial production of livestock, for the commercial breeding, training, showing, or racing of horses, or for the use of horses in a recreational or tourism enterprise. The activity will be considered commercial if the gross income derived from an activity for two or more of the taxable years in the period of seven consecutive taxable years which ends with the taxable year exceeds the deductions attributable to such activity or, if the operation has been in existence for less than seven years, if the activity is engaged in for the purpose of generating a profit;
(6) Qualified employee leasing company means a company which places all employees of a client-lessee on its payroll and leases such employees to the client-lessee on an ongoing basis for a fee and, by written agreement between the employee leasing company and a client-lessee, grants to the client-lessee input into the hiring and firing of the employees leased to the client-lessee;
(7) Related taxpayers includes any corporations that are part of a unitary business under the Nebraska Revenue Act of 1967 but are not part of the same corporate taxpayer, any business entities that are not corporations but which would be a part of the unitary business if they were corporations, and any business entities if at least fifty percent of such entities are owned by the same persons or related taxpayers and family members as defined in the ownership attribution rules of the Internal Revenue Code of 1986, as amended;
(8) Taxpayer means a corporate taxpayer or other person subject to either an income tax imposed by the Nebraska Revenue Act of 1967 or a franchise tax under Chapter 77, article 38, or a partnership, limited liability company, subchapter S corporation, cooperative, including a cooperative exempt under section 521 of the Internal Revenue Code of 1986, as amended, limited cooperative association, or joint venture that is or would otherwise be a member of the same unitary group if incorporated, which is, or whose partners, members, or owners representing an ownership interest of at least ninety percent of the control of such entity are, subject to or exempt from such taxes, and any other partnership, limited liability company, subchapter S corporation, cooperative, including a cooperative exempt under section 521 of the Internal Revenue Code of 1986, as amended, limited cooperative association, or joint venture when the partners, members, or owners representing an ownership interest of at least ninety percent of the control of such entity are subject to or exempt from such taxes; and
(9) Year means the taxable year of the taxpayer.
Source:
Laws 1997, LB 886, § 2;
Laws 1998, LB 1104, § 15;
Laws 1999, LB 539, § 1;
Laws 2003, LB 608, § 2;
Laws 2005, LB 312, § 17;
Laws 2006, LB 990, § 2;
Laws 2006, LB 1003, § 8.
Laws 2007, LB368, § 136.
The Revisor of Statutes has pursuant to section 49-769 correlated LB 223, section 16, with LB 368, section 136, to reflect all amendments.
The changes made by LB 223 became operative September 1, 2007. The changes made by LB 368 became operative January 1, 2008.Cross References:
Nebraska Revenue Act of 1967,see section 77-2701.
77-27,187.02 Application; contents; fee; Nebraska Advantage Rural Development Fund; created; use; investment; written agreement; contents.
(1) To earn the incentives set forth in the Nebraska Advantage Rural Development Act, the taxpayer shall file an application for an agreement with the Tax Commissioner.
(2) The application shall contain:
(a) A written statement describing the full expected employment or type of livestock production and the investment amount for a qualified business, as described in section 77-27,189, in this state;
(b) Sufficient documents, plans, and specifications as required by the Tax Commissioner to support the plan and to define a project; and
(c) An application fee of five hundred dollars. The fee shall be remitted to the State Treasurer for credit to the Nebraska Advantage Rural Development Fund, which fund is hereby created. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act. The application and all supporting information shall be confidential except for the name of the taxpayer, the location of the project, and the amounts of increased employment or investment.
(3)(a) The Tax Commissioner shall approve the application and authorize the total amount of credits expected to be earned as a result of the project if he or she is satisfied that the plan in the application defines a project that (i) meets the requirements established in section 77-27,188 and such requirements will be reached within the required time period and (ii) for projects other than livestock modernization or expansion projects, is located in an eligible county or enterprise zone.
(b) The Tax Commissioner shall not approve further applications once the expected credits from the approved projects total two million five hundred thousand dollars in each of fiscal years 2004-05 and 2005-06 and three million dollars in fiscal year 2006-07 and each fiscal year thereafter. Four hundred dollars of the application fee shall be refunded to the applicant if the application is not approved because the expected credits from approved projects exceed such amounts.
(c) Applications for benefits shall be considered in the order in which they are received.
(d) Applications shall be filed by November 1 and shall be complete by December 1 of each calendar year. Any application that is filed after November 1 or that is not complete on December 1 shall be considered to be filed during the following calendar year.
(4) After approval, the taxpayer and the Tax Commissioner shall enter into a written agreement. The taxpayer shall agree to complete the project, and the Tax Commissioner, on behalf of the State of Nebraska, shall designate the approved plans of the taxpayer as a project and, in consideration of the taxpayer's agreement, agree to allow the taxpayer to use the incentives contained in the Nebraska Advantage Rural Development Act up to the total amount that were authorized by the Tax Commissioner at the time of approval. The application, and all supporting documentation, to the extent approved, shall be considered a part of the agreement. The agreement shall state:
(a) The levels of employment and investment required by the act for the project;
(b) The time period under the act in which the required level must be met;
(c) The documentation the taxpayer will need to supply when claiming an incentive under the act;
(d) The date the application was filed; and
(e) The maximum amount of credits authorized.
Source:
Laws 2003, LB 608, § 3;
Laws 2005, LB 312, § 18;
Laws 2006, LB 990, § 3;
Laws 2007, LB 223, § 17.Operative date September 1, 2007
Cross References:
Nebraska Capital Expansion Act,see section 72-1269.
Nebraska State Funds Investment Act,see section 72-1260.
77-27,188 Tax credit; allowed; when; amount; repayment.
(1) A refundable credit against the taxes imposed by the Nebraska Revenue Act of 1967 shall be allowed to any taxpayer who has an approved application pursuant to the Nebraska Advantage Rural Development Act, who is engaged in a qualifying business as described in section 77-27,189, and who after January 1, 2006:
(a)(i) Increases employment by two new equivalent employees and makes an increased investment of at least one hundred twenty-five thousand dollars prior to the end of the first taxable year after the year in which the application was submitted in any county in this state with a population of fewer than fifteen thousand inhabitants, according to the most recent federal decennial census, or in any designated enterprise zone pursuant to 42 U.S.C. 11501 or the Enterprise Zone Act; or
(ii) Increases employment by five new equivalent employees and makes an increased investment of at least two hundred fifty thousand dollars prior to the end of the first taxable year after the year in which the application was submitted in any county in this state with a population of less than twenty-five thousand inhabitants, according to the most recent federal decennial census; and
(b) Pays a minimum qualifying wage of eight dollars and twenty-five cents per hour to the new equivalent employees for which tax credits are sought under the Nebraska Advantage Rural Development Act. The Department of Revenue shall adjust the minimum qualifying wages required for applications filed after January 1, 2004, and each January 1 thereafter, as follows: The current rural Nebraska average weekly wage shall be divided by the rural Nebraska average weekly wage for 2003; and the result shall be multiplied by the eight dollars and twenty-five cents minimum qualifying wage for 2003 and rounded to the nearest one cent. The amount of increase or decrease in the minimum qualifying wages for any year shall be the cumulative change in the rural Nebraska average weekly wage since 2003. For purposes of this subsection, rural Nebraska average weekly wage means the most recent average weekly wage paid by all employers in all counties with a population of less than twenty-five thousand inhabitants as reported by October 1 by the Department of Labor.
For purposes of this section, a teleworker working in Nebraska from his or her residence for a taxpayer shall be considered an employee of the taxpayer, and property of the taxpayer provided to the teleworker working in Nebraska from his or her residence shall be considered an investment. Teleworker includes an individual working on a per-item basis and an independent contractor working for the taxpayer so long as the taxpayer withholds Nebraska income tax from wages or other payments made to such teleworker. For purposes of calculating the number of new equivalent employees when the teleworkers are paid on a per-item basis or are independent contractors, the total wages or payments made to all such new employees during the year shall be divided by the qualifying wage as determined in subdivision (b) of this subsection, with the result divided by two thousand eighty hours.
(2) A refundable credit against the taxes imposed by the Nebraska Revenue Act of 1967 shall be allowed to any taxpayer who (a) has an approved application pursuant to the Nebraska Advantage Rural Development Act, (b) is engaged in livestock production, and (c) after January 1, 2007, invests at least fifty thousand dollars for livestock modernization or expansion.
(3) The amount of the credit allowed under subsection (1) of this section shall be three thousand dollars for each new equivalent employee and two thousand seven hundred fifty dollars for each fifty thousand dollars of increased investment. The amount of the credit allowed under subsection (2) of this section shall be ten percent of the investment, not to exceed a credit of thirty thousand dollars. For each application, a taxpayer engaged in livestock production may qualify for a credit under either subsection (1) or (2) of this section, but cannot qualify for more than one credit per application.
(4) An employee of a qualified employee leasing company shall be considered to be an employee of the client-lessee for purposes of this section if the employee performs services for the client-lessee. A qualified employee leasing company shall provide the Department of Revenue access to the records of employees leased to the client-lessee.
(5) The credit shall not exceed the amounts set out in the application and approved by the Tax Commissioner.
(6)(a) If a taxpayer who receives tax credits creates fewer jobs or less investment than required in the project agreement, the taxpayer shall repay the tax credits as provided in this subsection.
(b) If less than seventy-five percent of the required jobs in the project agreement are created, one hundred percent of the job creation tax credits shall be repaid. If seventy-five percent or more of the required jobs in the project agreement are created, no repayment of the job creation tax credits is necessary.
(c) If less than seventy-five percent of the required investment in the project agreement is created, one hundred percent of the investment tax credits shall be repaid. If seventy-five percent or more of the required investment in the project agreement is created, no repayment of the investment tax credits is necessary.
(7) For taxpayers who submitted applications for benefits under the Nebraska Advantage Rural Development Act before January 1, 2006, subsection (1) of this section, as such subsection existed immediately prior to such date, shall continue to apply to such taxpayers. The changes made by Laws 2005, LB 312, shall not preclude a taxpayer from receiving the tax incentives earned prior to January 1, 2006.
Source:
Laws 1986, LB 1124, § 2;
Laws 1987, LB 270, § 2;
Laws 1989, LB 335, § 1;
Laws 1993, LB 725, § 16;
Laws 1995, LB 134, § 6;
Laws 1997, LB 886, § 3;
Laws 1999, LB 539, § 2;
Laws 2001, LB 169, § 2;
Laws 2003, LB 608, § 4;
Laws 2005, LB 312, § 19;
Laws 2006, LB 990, § 4;
Laws 2007, LB 223, § 18.Operative date September 1, 2007
Cross References:
Enterprise Zone Act,see section 13-2101.01.
Ethanol facility eligible for tax credit,requirements, see section 66-1349.
Nebraska Revenue Act of 1967,see section 77-2701.
77-27,188.01 Tax credit; claim; use; payment by contractor; how treated; applicability of section.
(1) The credit allowed under section 77-27,188 may be used to obtain a refund of state sales and use taxes paid or against the income tax liability of the taxpayer or may be used as a refundable credit claimed on an income tax return of the taxpayer. The return need not reflect any income tax liability owed by the taxpayer.
(2) A claim for the credit may be filed quarterly for refund of the state sales and use taxes paid, either directly or indirectly, after the filing of the income tax return for the taxable year in which the credit was first allowed.
(3) The credit may be used to obtain a refund of state sales and use taxes paid before the end of the taxable year for which the credit was allowed, except that the amount refunded under this subsection shall not exceed the amount of the state sales and use taxes paid, either directly or indirectly, by the taxpayer on the qualifying investment.
(4) For purposes of subsections (2) and (3) of this section, the taxpayer shall be deemed to have paid indirectly any state sales or use taxes paid by a contractor on building materials annexed to an improvement to real estate built for the taxpayer. The contractor shall certify to the taxpayer the amount of the Nebraska state sales and use taxes paid on the building materials, or the taxpayer, with the permission of the Tax Commissioner and a certification from the contractor that Nebraska state sales and use taxes were paid on all building materials, may presume that fifty percent of the cost of the improvement was for building materials annexed to real estate on which the tax was paid.
(5) No claim for refund of sales and use taxes under this section may be filed prior to January 1, 1989.
(6) Credits distributed to a partner, limited liability company member, shareholder, or beneficiary under section 77-27,194 may be used against the income tax liability of the partner, member, shareholder, or beneficiary receiving the credits.
(7) For taxpayers who met the job and investment thresholds of the Employment Expansion and Investment Incentive Act for a tax year beginning before January 1, 2004, subsection (6) of this section and subdivision (1)(b) of section 77-27,188, as such section existed immediately prior to such date, shall continue to apply to such taxpayer. The changes made by Laws 2003, LB 608, shall not preclude a taxpayer from receiving the tax incentives earned prior to January 1, 2004.
Source:
Laws 1987, LB 270, § 3;
Laws 1989, LB 335, § 2;
Laws 1993, LB 121, § 512;
Laws 1993, LB 345, § 73;
Laws 1993, LB 725, § 17;
Laws 1994, LB 884, § 91;
Laws 2003, LB 608, § 5;
Laws 2004, LB 1017, § 21.
77-27,188.02 Failure to maintain investment and employment level; effect.
If the taxpayer does not maintain the increases in the level of investment and employment described in subsection (1) of section 77-27,188 to create a credit for at least three years after the year for which the credit was first allowed, the taxpayer shall lose all used and unused credits. The taxpayer shall repay to the state the amount of the used credits within one year after the failure to maintain such investment and employment.
Source:
Laws 1987, LB 270, § 4;
Laws 1989, LB 335, § 3;
Laws 1997, LB 886, § 4;
Laws 2001, LB 169, § 3;
Laws 2003, LB 608, § 6;
Laws 2006, LB 990, § 5.
77-27,189 Qualified business, defined.
(1) A qualified business means any business engaged in:
(a) Storage, warehousing, distribution, transportation, or sale of tangible personal property;
(b) Livestock production;
(c) Conducting research, development, or testing for scientific, agricultural, animal husbandry, food product, or industrial purposes;
(d) Performing data processing, telecommunication, insurance, or financial services. For purposes of this subdivision, financial services includes only financial services provided by any financial institution subject to tax under Chapter 77, article 38, or any person or entity licensed by the Department of Banking and Finance or the Securities and Exchange Commission and telecommunication services includes community antenna television service, Internet access, satellite ground station, data center, call center, or telemarketing;
(e) Assembly, fabrication, manufacture, or processing of tangible personal property;
(f) Administrative management of any activities, including headquarter facilities relating to such activities; or
(g) Any combination of the activities listed in this subsection.
(2) Qualified business does not include:
(a) Any business activity in which eighty percent or more of the total sales are sales to the ultimate consumer of food prepared for immediate consumption or are sales to the ultimate consumer of tangible personal property which is not (i) assembled, fabricated, manufactured, or processed by the taxpayer or (ii) used by the purchaser in any of the activities listed in subsection (1) of this section; and
(b) Any casino.
Source:
Laws 1986, LB 1124, § 3;
Laws 1987, LB 270, § 5;
Laws 1993, LB 725, § 18;
Laws 2003, LB 608, § 7;
Laws 2006, LB 990, § 6;
Laws 2007, LB 223, § 19.Operative date September 1, 2007
77-27,190 Employment expansion; how determined.
(1) A taxpayer shall be deemed to have new equivalent employees when the new equivalent employees hired during a taxable year are in addition to the number of total equivalent employees in the taxable year preceding the date of application.
(2) Qualifying business employees who work within and without this state shall be considered only to the extent they are paid for work performed within this state.
(3) The hours worked by any person considered an independent contractor or the employee of another taxpayer shall not be used in the computation under this section.
Source:
Laws 1986, LB 1124, § 4;
Laws 1987, LB 270, § 6;
Laws 1997, LB 886, § 5;
Laws 2003, LB 608, § 8;
Laws 2007, LB 223, § 20.Operative date September 1, 2007
77-27,191 Investment increase; how determined.
(1) A taxpayer shall be deemed to have made an increased investment in this state to the extent the value of the property used or available for use exceeds the value of all property used or available for use on the last day of the taxable year previous to the date the application was filed.
(2) To determine the value of property owned by the taxpayer, the tax basis before allowance for depreciation shall be used. To determine the value of property rented by the taxpayer, the average net annual rent shall be multiplied by the number of years of the lease for which the taxpayer was originally bound, not to exceed ten years. The rental of land included in and incidental to the leasing of a building shall not be excluded from the computation.
(3) Only investment in improvements to real property and tangible personal property that are depreciable under the Internal Revenue Code shall be considered.
(4) Vehicles, planes, or railroad rolling stock shall be excluded in determining the investment under this section.Source:
Laws 1986, LB 1124, § 5;
Laws 1987, LB 270, § 7;
Laws 1989, LB 335, § 4;
Laws 2003, LB 608, § 9;
Laws 2006, LB 1003, § 9.
77-27,192 Existing business acquisition, disposal, reorganization, or relocation; computation; certain transactions excluded.
1)(a) If the taxpayer acquires an existing business, the increases determined in sections 77-27,190 and 77-27,191 shall be computed as though the taxpayer had owned the business for the entire taxable year preceding the date of application.
(b) If the taxpayer disposes of an existing business, and the new owner maintains the minimum increases in the levels of investment and employment required in section 77-27,188 to create a credit, the taxpayer shall not be required to make any repayment under section 77-27,188.02 solely because of the disposition of the business.
(2) If the structure of a business is reorganized, the taxpayer shall compute the increases on a consistent basis for all periods.
(3) If the taxpayer moves a business from one location to another and the business was operated in this state during the taxable year preceding the date of application, the increases determined in sections 77-27,190 and 77-27,191 shall be computed as though the taxpayer had operated the business at the new location for the entire taxable year preceding the date of application.
(4) If the taxpayer enters into any of the following transactions, they shall be presumed to be a transaction entered into for the purpose of generating benefits under the Nebraska Advantage Rural Development Act and shall not be allowed in the computation of any benefit or the meeting of any required levels under the agreement except as specifically provided in this subsection:
(a) The purchase or lease of any property which was previously owned by the taxpayer which filed the application or a related taxpayer unless the first purchase by either the taxpayer which filed the application or a related taxpayer was first placed in service in the state after the beginning of the taxable year the application was filed;
(b) The renegotiation of any lease in existence during the taxable year the application was filed which does not materially change any of the terms of the lease other than the expiration date;
(c) The purchase or lease of any property from a related taxpayer, except that the taxpayer which filed the application will be allowed any benefits under the act to which the related taxpayer would have been entitled on the purchase or lease of the property if the related taxpayer was considered the taxpayer;
(d) Any transaction entered into primarily for the purpose of receiving benefits under the act which is without a business purpose and does not result in increased economic activity in the state; and
(e) Any activity that results in benefits under the Ethanol Development Act.
Source:
Laws 1986, LB 1124, § 6;
Laws 1997, LB 886, § 6;
Laws 2001, LB 169, § 4;
Laws 2007, LB 223, § 21.Operative date September 1, 2007
Cross References:
Ethanol Development Act, see section 66-1330.
77-27,193 Repealed. Laws 2003, LB 608, s. 14.
77-27,194 Credit; when transferable.
The credit allowed under the Nebraska Advantage Rural Development Act shall not be transferable except in the following situations:
(1) Any credit allowable to a partnership, a limited liability company, a subchapter S corporation, a cooperative, including a cooperative exempt under section 521 of the Internal Revenue Code of 1986, as amended, a limited cooperative association, or an estate or trust may be distributed to the partners, limited liability company members, shareholders, patrons, limited cooperative association members, or beneficiaries. Any credit distributed shall be distributed in the same manner as income is distributed. A credit distributed shall be considered a credit used and the partnership, limited liability company, subchapter S corporation, cooperative, including a cooperative exempt under section 521 of the Internal Revenue Code of 1986, as amended, limited cooperative association, estate, or trust shall be liable for any repayment under section 77-27,188.02;
(2) The incentives previously allowed and the future allowance of incentives may be transferred when a project covered by an agreement is transferred by sale or lease to another taxpayer or in an acquisition of assets qualifying under section 381 of the Internal Revenue Code of 1986;
(3) The acquiring taxpayer, as of the date of notification of the Tax Commissioner of the completed transfer, shall be entitled to any unused credits and to any future incentives allowable under the act;
(4) The acquiring taxpayer shall be liable for any repayment that becomes due after the date of the transfer for the repayment of any benefits received either before or after the transfer; and
(5) If a taxpayer operating a qualifying business and allowed a credit under section 77-27,188 dies and there is credit remaining after the filing of the final return for the taxpayer, the personal representative shall determine the distribution of the credit or any remaining carryover with the initial fiduciary return filed for the estate. The determination of the distribution of credit may be changed only after obtaining the permission of the Tax Commissioner.
Source:
Laws 1986, LB 1124, § 8;
Laws 1993, LB 121, § 513;
Laws 1994, LB 884, § 92;
Laws 1997, LB 886, § 8;
Laws 2003, LB 608, § 10;
Laws 2005, LB 312, § 20;
Laws 2006, LB 1003, § 10;
Laws 2007, LB 368, § 137.Operative date January 1, 2008
77-27,194.01 Refund claims; interest not allowable.
For all refund claims filed on or after October 1, 1998, interest shall not be allowable on any refunds paid because of benefits earned under the Nebraska Advantage Rural Development Act.
Source:
Laws 1998, LB 1104, § 16; Laws 2005, LB 312, § 21.
(1) The Tax Commissioner shall prepare a report identifying the amount of investment in this state and the number of equivalent jobs created by each taxpayer claiming a credit pursuant to the Nebraska Advantage Rural Development Act. The report shall include the amount of credits claimed in the aggregate. The report shall be issued on or before March 15 of each year beginning with March 15, 1988, through March 15, 2006, for all credits allowed during the previous calendar year. The report shall be issued on or before July 15 of each year beginning with July 15, 2007, for all credits allowed during the previous calendar year.
(2) Beginning with applications filed on or after January 1, 2006, except for livestock modernization or expansion projects, the report shall provide information on project-specific total incentives used every two years for each approved project and shall disclose (a) the identity of the taxpayer, (b) the location of the project, and (c) the total credits used and refunds approved during the immediately preceding two years expressed as a single, aggregated total. The incentive information required to be reported under this subsection shall not be reported for the first year the taxpayer attains the required employment and investment thresholds. The information on first-year incentives used shall be combined with and reported as part of the second year. Thereafter, the information on incentives used for succeeding years shall be reported for each project every two years containing information on two years of credits used and refunds approved. The incentives used shall include incentives which have been approved by the Department of Revenue, but not necessarily received, during the previous two calendar years.
(3) For livestock modernization or expansion projects, the report shall disclose (a) the identity of the taxpayer, (b) the total credits used and refunds approved during the preceding calendar year, and (c) the location of the project.
(4) No information shall be provided in the report that is protected by state or federal confidentiality laws.
Source:
Laws 1986, LB 1124, § 9;
Laws 1993, LB 725, § 19;
Laws 1997, LB 886, § 9;
Laws 2003, LB 608, § 11;
Laws 2005, LB 312, § 22;
Laws 2006, LB 990, § 7.
77-27,196 Repealed. Laws 2002, LB 93, s. 27.
77-27,196.01 Changes to sections; when operative; credits; applicability of act.
(1) The changes made in sections 77-27,188, 77-27,188.02, 77-27,190, 77-27,192, 77-27,193, and 77-27,194 by Laws 1997, LB 886, shall become operative for all credits earned in tax years beginning, or deemed to begin, on and after January 1, 1998. For all credits earned in tax years beginning, or deemed to begin, prior to January 1, 1998, the provisions of the Employment Expansion and Investment Incentive Act as they existed immediately prior to such date shall apply.
(2) The changes made in sections 77-27,187.01 and 77-27,188 by Laws 1999, LB 539, shall become operative for all credits earned in tax years beginning, or deemed to begin, on and after January 1, 1999. For all credits earned in tax years beginning, or deemed to begin, prior to January 1, 1999, the provisions of the Employment Expansion and Investment Incentive Act as they existed immediately prior to such date shall apply.
(3) The changes made in sections 77-27,188, 77-27,188.02, and 77-27,192 by Laws 2001, LB 169, shall become operative for all credits earned in tax years beginning, or deemed to begin, on and after January 1, 2001. For all credits earned in tax years beginning, or deemed to begin, prior to January 1, 2001, the provisions of the Employment Expansion and Investment Incentive Act as they existed immediately prior to such date shall apply.
Source:
Laws 1997, LB 886, § 10;
Laws 1999, LB 539, § 3;
Laws 2001, LB 169, § 5.Cross Reference:
Employment Expansion and Investment Incentive Act,see section 77-27,187
