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Dear Residents of the 40th District,
LB84 was debated on select file and an amended version was advanced to final reading. As amended, LB84 directs one quarter of one percent of existing state sales tax to be used for construction of high-priority highway projects. This tax diversion will begin in 2013, after the current budget, and continue until 2033 and will generate approximately $65 million per year. At least 25% of these funds shall be used for the expressway system, with the remaining funds used for other transportation projects as determined by the Department of Roads. The amendment reduces the funding by half, largely due to concerns about other budget priorities like education. I fully support the amended LB84 and the investment in Nebraska’s roads, while keeping in mind that other priorities must be adequately addressed as well.
LB360, introduced by Senator Abbie Cornett of Bellevue, was debated on general file. LB360 amends the tax structure for wind energy companies to clarify the property tax exemption, but as amended, does not eliminate the tax credit against the nameplate capacity tax to wind energy companies for previously paid property tax. During debate, I expressed my opposition to the changes proposed in this legislation because this credit remains intact. I am continuing to work with the introducer of this bill as well as other Senators to eliminate this tax credit and will again express the problems with this credit during the second round of debate. The tax credit is unfair to Knox County and is an example of an unnecessary reduction in tax revenue.
Please feel free to contact my office with your questions and comments at (402) 471-2801 or firstname.lastname@example.org.
Senator Tyson Larson