Wed April 2, 2014
Neb. Gov. Heineman signs tax relief bills into law
LINCOLN, Neb. (AP) — Nebraska Gov. Dave Heineman has signed a series of tax relief measures into law, and he says the bills passed this year will amount to $412 million in tax reductions over the next five years.
Heineman announced Wednesday that he has approved five tax bills. He expects to sign a sixth this week.
The new laws include an indexing measure to ensure tax brackets keep pace with inflation, a sales tax exemption on farm machinery, a $25 million increase to Nebraska's property tax credit program and two laws that would expand homestead exemptions.
The sixth bill is a sales tax exemption for purchases made by historic car museums.
Sen. Galen Hadley, chairman of the Revenue Committee, says he wants to work next year on the way farmland is taxed.
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