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Legislators override all but one line-item vetoes

 

April 14, 2022



Many major issues were dealt with this past week in the Legislature, with the most significant being the passage of LB 873. When fully implemented, LB 873 will result in almost $900 million in annual tax relief. The legislation sets a floor for the refundable income tax credit of $548 million in 2022 and $560.7 million in 2023. This guarantees an approximate 25% refund for property taxes paid to school districts. Additionally, a similar income tax credit will be implemented for property taxes paid to community colleges. Funding for this portion will begin at $50 million this year and increa...



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