One Hundred Eighth Legislature - First Special Session - 2024
Introducer€s Statement of Intent
LB1
€
Chairperson: Senator Lou Ann Linehan
Committee: Revenue
Date of Hearing: July 30, 2024
€
The following constitutes the reasons for this bill and the purposes which are sought to be
accomplished thereby:
The intent of LB1 is to lower the overall property tax burden for Nebraska homeowners by 50%. LB1 would
accomplish this by creating the Property Tax Limitation Act, creating the Advertising Services Tax Act,
eliminating several current sales tax exemptions, assessing a sales tax, or increasing an existing tax on certain
items, assessing a tax on certain services, repurposing the existing Property Tax Credit Act, lay out the future
expectations for the legislature and school funding, and creating the School District Property Tax Relief Act that
will be assessed directly against property taxes paid to schools.€
€
Principal Introducer:________________________________
Senator Lou Ann Linehan
- 1 -