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One Hundred Eighth Legislature - First Special Session - 2024
Introducer€s Statement of Intent
LB75
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Chairperson: Senator Lou Ann Linehan
Committee: Revenue
Date of Hearing: August 02, 2024
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The following constitutes the reasons for this bill and the purposes which are sought to be
accomplished thereby:
Legislative Bill 75 would adopt the Long-Term Owner Homestead Exemption Act. The
bill would provide a new homestead exemption for an owner who has owned a Nebraska homestead or
homesteads for forty years and currently resides in a Nebraska homestead. Homesteads of qualified owners
shall be assessed for taxation the same as other property, except for an exemption for purposes of any
subdivision property taxes, where the homestead shall be valued at zero.€
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Principal Introducer:________________________________
Senator Mike McDonnell
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