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With the beginning of March, we are already more than a third of the way through this session of the Legislature. The pace continues to be hectic with debate, hearings, meetings with constituents and district events. And, I had three bills heard in committee on Thursday.
LB 473 is my bill that would allow political subdivisions to acquire a loan from the state to pay federal judgments. Existing law already allows this for state court judgments, but not federal. My bill would add the federal judgment in cases where the subdivision has insufficient resources to pay, and establishes an interest rate of one half of one percent. Again, the bill had support from several testifiers and the senators on the Revenue Committee asked some good questions about how this would benefit Gage County and property tax payers.
The other two bills were heard by the Government, Military and Veterans Affairs Committee. The first, LB 524, simply harmonizes dates to clarify when tax valuations on newly annexed properties take effect. The second bill, LB 525, would allow counties to transfer an interest in real estate in fee simple to another political subdivision.
The report from the state forecasting board made the work of the Appropriations Committee a little more complicated this week. Coming in with a revenue projection that was $80 million lower means as a committee, we will have to find more rigorous ways to balance the budget. This comes just as we began hearing from numerous state agencies and senators with bills seeking funding for various programs. There will be one more report from the forecasting board later in April after income tax receipts are estimated, and we hope to be in a better position at that time. But for now, more belt tightening will be required.
An interesting consequence of the growing use of alternative fuels and hybrid vehicles is that less money is going into the fund for roads in Nebraska. All of these vehicles still use the roadways while paying less gas tax. Sen. Bostelman introduced LB 366 to increase the fee required under the Motor Vehicle Registration Act from $75 to $125 in increments over a period of five years. The fee increase is to help make up for lost gas tax revenue as more vehicles utilize alternative fuels. The fee will continue to be credited to the Highway Trust Fund.
March 1st is Statehood Day and marks the 152nd anniversary of Nebraska becoming a state. I think of the changes that have occurred in those years, going from a mostly treeless prairie to a state with cutting edge agriculture, thriving towns and productive citizens. I strive to make my efforts here in the Legislature perpetuate the good things happening in our state.
Thank you to all who have contacted my office with your thoughts on issues and specific bills. I appreciate hearing from you. Contact me any time at email@example.com or 402-471-2620. Follow the Legislature by going to www.nebraskalegislature.gov where you can find bill information or link to a live feed of the proceedings.