Nebraska Legislature Bill LB213

Nebraska 2023-2024 Regular Session

• Introduced: 1/10/23
• Refer: 1/12/23
• Failed: 4/18/24

Caption

Change provisions regarding tax credits under the Nebraska Job Creation and Mainstreet Revitalization Act and grants under the Rural Workforce Housing Investment Act

Impact

The intended impact of LB213 is significant in terms of bolstering job creation and revitalizing local economies in Nebraska. By modifying tax credits and financial assistance, the bill is expected to attract new businesses and encourage existing businesses to expand. Additionally, the focus on rural workforce housing investment is particularly relevant given the ongoing challenges related to housing affordability and availability in these areas. Proponents believe these changes will make Nebraska a more attractive place for businesses and workers alike.

Summary

LB213 proposes changes to the Nebraska Job Creation and Mainstreet Revitalization Act, specifically targeting the provisions regarding tax credits and grants. The bill aims to enhance incentives for job creation within the state and provide support for housing initiatives in rural areas. By refining existing tax credit structures and grant allocations, LB213 seeks to stimulate economic growth and support community development through increased operational flexibility for businesses, especially in rural communities.

Contention

However, there are notable points of contention regarding LB213. Critics may argue that while the bill promotes economic expansion, it could also result in reduced revenue for the state due to the expanded tax credits. Concerns also exist about whether the benefits will indeed reach the intended communities and if the investment in rural housing will adequately address the existing supply-demand issues. Ultimately, the discussions surrounding LB213 will likely revolve around balancing economic growth with the potential fiscal implications for the state.