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I want to remind everyone that I will be hosting a special town hall meeting with Kyle Schneweis, Nebraska Department of Transportation (NDOT) Director. It will be from 1:00 to 2:00 PM on Thursday, October 25th, at the Stromsburg Senior Center (118 East 3rd Street). Director Schneweis will be joining me for a public discussion about NDOT’s Surface Transportation Program Book that was recently released for the Fiscal Years 2019 through 2024. This would be a good opportunity to ask questions about transportation projects proposed over the next one to five years.
If you have had the opportunity to read my last few columns, I have been providing a brief overview Nebraska’s budget. This included information about revenues collected by the State and local governments. I also provided a general overview of State spending highlighting some of the larger government programs. Here is a link to my website, http://news.legislature.ne.gov/dist24/, in case you have missed reading these columns.
The Legislature’s Revenue and Appropriations committees will be holding a special joint hearing next Friday, October 26th, to discuss the Nebraska Department of Revenue Tax Expenditure Report that is required by the Tax Expenditure Reporting Act. Tax expenditures are similar to government spending, except tax revenues are not collected by the State as a result of an exemption, deduction, exclusion, tax deferral, credit, or preferential rate in the tax structure providing an indirect subsidy for certain sectors of the economy. A biannual review is necessary to ensure that tax expenditures do not outlive their usefulness and adversely impact state revenues. You may view the report on the Nebraska Department of Revenue’s website at www.revenue.nebraska.gov.
The Nebraska Economic Forecasting Advisory Board will also be meeting next Friday, October 26th. The nine member board meets every October and February to forecast state revenue collections including individual income, corporate income and sales taxes and other revenues.
Both the Tax Expenditure Report and forecasting board revenue projections will be important to Members of the Legislature as we prepare for the next 90-day session that starts in January.
As always, if we can be of assistance to you in any way, please do not hesitate to contact my office. My door is open and I have made it a goal to be accessible to the constituents of our district. Please stop by any time. My e-mail address is firstname.lastname@example.org, and the office phone number is 402-471-2756. Todd and Katie are always available to assist you with your needs. If I am not immediately available, please do not hesitate to work with them to address any issues that you may need assistance.