A half-cent increase in Omaha’s sales tax could generate $45 million for the city.
Nebraska lawmakers last week overrode Governor Dave Heineman’s veto of legislation allowing cities to raise their sales tax rate. Doing so would require supermajority approval from both the city council and voters.
Omaha’s current sales tax rate is 7 percent, with 1.5 percent of it local. Mayor Jim Suttle says there are no plans to put the sales tax initiative on the November general election ballot.
An amended version of Governor Dave Heineman’s tax cut plan is awaiting second-round debate in the Unicameral.
The tax cut plan passed the first round of debate earlier this week. Governor Dave Heineman originally called for $327 million dollars worth of tax cuts over three years. In addition to income taxes, the plan would’ve cut corporate income taxes and ended the state’s inheritance tax.
Senator Lavon Heidemann, chairman of the Legislature’s Appropriations Committee, says the amended plan is now $97.2 million. The inheritance tax remains part of state law.
Senator Brad Ashford introduced LB 1144 in the legislature.
He says the bill is part of the education priority package of bills that will be voted on by the legislature in the next few weeks. Senator Ashford says the bill supports and encourages the creation of career academies for Nebraska.
He says a career academy is a stand alone educational school that would provide courses and a pathway to employment for those students who do not seek a traditional college education.
A bill providing tax credits to redevelop historic properties is moving forward in the Unicameral.
Speaker Mike Flood chose LB888 as one of his priority bills. It would provide a 25 percent tax credit for developers who rehabilitate historic properties. Nonprofits that do so could get a 30 percent tax credit.
LB 882 would take cancer treatment decisions away from insurance companies and put them back into the hands of patients and their doctors.
That’s according to Omaha Senator Jeremy Nordquist, who introduced LB 882. He says the measure creates parity between oral chemotherapy medications and IV medications for cancer patients. Senator Nordquist says under the current system, IV medications are considered a medical benefit.
Developers wanting to rehabilitate state, federal, or locally-designated historic sites could get a tax credit for doing so under legislature in the Unicameral.
The Historic Property Restoration and Reuse Act is sponsored by Bellevue Senator Abbie Cornett. Developers who restore a historic property, or a facility within a historic district, could apply for a 25 percent tax credit. Nonprofits could be eligible for a 30 percent tax credit.