Signed by Governor Jim Pillen

Vote Smart's Synopsis:

Vote to pass a bill that amends state tax laws to establish child tax credits in Nebraska and changes income tax rates.

Highlights:

• Establishes the ChildCare Tax Credit Act (Sec. 1). 

• Limits individual and corporate income tax rates (Sec. 1). 

• Establishes new tax deductions (Sec. 1). 

• Specifies new provisions for the taxation of business partnerships and small business’s run as corporations (Sec. 1). 

• Extends tax credits coming from the School readiness tax Credit act 

• Establishes a state of emergency (Sec. 1).

Full Bill Text