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As vice-chair of the Legislative Performance Audit Committee, I introduced LB 836 this past week before the Revenue Committee. LB 836 proposes to add basic goal language to certain tax incentive programs, such as the Nebraska Advantage Act and the Angel Investment Tax Credit Act, that currently have limited or no goal language.
Of the tax incentive programs, the Nebraska Advantage Act has the largest impact on the state budget. This act provides benefits to companies that invest or create jobs in Nebraska.
Last year, the Performance Audit Committee, working with the Pew Center for the States, issued three reports on tax incentives. The committee found that an absence of clear, measurable goals for each tax incentive program made it difficult to assess whether the program is doing what the Legislature intended it to do.
The Pew Center recommended a process for legislators to follow in improving the evaluation of the state’s tax incentive programs, which included the development of goals, metrics, and benchmarks. LB 836 represents a first step in increasing accountability and improving the state’s evaluation of tax incentive programs. The Performance Audit Committee has designated LB 836 as its committee priority bill, assuring that it will be debated by the Legislature, if it advances from the Revenue Committee.
The Performance Audit Committee also introduced LR 444, which proposes to create a committee to develop an ongoing, regular review of tax incentive programs. The intent is to introduce legislation containing additional recommendations next year.
The Appropriations Committee has made some preliminary recommendations for the mid-biennium budget adjustments that must be presented to the Legislature by the 40th legislative day, which falls on March 10th this year. Included in their preliminary recommendations, is a $15 million transfer from the Cash Reserve Fund and a one-time $2.5 million transfer from the State Recreation Road Fund for State Park deferred maintenance and improvements statewide. The Game and Parks Commission has indicated that this level of funding would allow them to undertake capital projects at Ponca State Park, as identified in LB 874, and allow for priority capital projects at Arbor Lodge State Historical Park, in order to place existing facilities in a condition that would be conducive to transferring operating and management to a local partner, as identified in LB 1033.
I introduced LB 1033 to allow for the transfer of the operation and management of Arbor Lodge State Historical Park from the state to a local partnership. I believe a local partnership will be in a position to promote more utilization and offer greater stability of this important landmark in southeast Nebraska. I am grateful to the Appropriations Committee members for including this provision in their preliminary recommendations.
As the Legislature begins full-day debate, focusing on bills that have been designated as priority bills, I encourage you to contact me with your thoughts and opinions on the various issues. I can be reached at District #1, P.O. Box 94606, State Capitol, Lincoln, NE 68509. My email address is email@example.com and my telephone number is (402 471-2733.