Nebraska 2023-2024 Regular Session

Nebraska Legislature Bill LB1134

Introduced
1/11/24  
Refer
1/16/24  

Caption

Change provisions relating to the accrual of interest on taxes due after an order by the Tax Equalization and Review Commission

Impact

If passed, LB1134 will directly impact state tax laws by amending how interest on tax debts is accrued under specific circumstances. This legislative change has potential implications for local governments that rely on timely tax revenues to fund essential services. By addressing interest calculations post-commission order, the bill may alleviate confusion and disputes regarding tax payments, leading to a more streamlined fiscal process for municipalities.

Summary

LB1134 proposes changes to the provisions relating to the accrual of interest on taxes due after an order from the Tax Equalization and Review Commission. This bill aims to clarify and define how interest should be calculated on property taxes returning to local governments, enhancing the overall transparency and efficiency of the taxation process. By establishing clearer guidelines, LB1134 seeks to provide an equitable framework for taxpayers and local authorities alike, ensuring that tax discrepancies are settled fairly.

Contention

A point of contention surrounding LB1134 may relate to how it could affect local government revenues and taxpayer obligations. Supporters of the bill argue that it would enhance clarity and fairness in tax administration, potentially leading to faster resolutions to tax disputes. However, opponents may fear that changes in interest provisions could disproportionately impact taxpayers who are already struggling with financial burdens, fostering anxiety over their obligations under the revised rules.

Companion Bills

No companion bills found.

Previously Filed As

NE LB28

Change provisions relating to decisions on appeals under the Tax Equalization and Review Commission Act

NE LB243

Adopt the School District Property Tax Limitation Act, change levying authority and provide aid to community college areas, and change provisions relating to the Tax Equalization and Review Commission and property and income taxes

NE LB146

Change provisions relating to assessment of improvements on leased lands and methods for giving notice by the Tax Commissioner

NE LB398

Change provisions relating to in lieu of tax payments by the Game and Parks Commission

NE LB704

Change provisions relating to the review and modification of an incarcerated parent’s child support order

NE LB714

Change provisions relating to motor vehicle taxes and fees

NE LB302

Change provisions relating to conflicts of interest by certain officeholders and public employees

NE LB562

Change provisions relating to permits and stamps issued by the Game and Parks Commission

NE LB950

Change provisions relating to the collection of occupation taxes

NE LB1164

Change provisions relating to the State Racing and Gaming Commission

Similar Bills

No similar bills found.