April 22, 2022

2022 SESSION, 107TH LEGISLATURE

The Second Session of the 107th Legislature adjourned sine die on Wednesday afternoon. With no vetoes being issued by Governor Ricketts on legislation passed last week, the final day of the session primarily consisted of pomp and circumstance. Governor Ricketts presented his end-of-session speech, in which he praised the Legislature for its accomplishments. Thirteen senators who will not be returning next session also provided parting words.

Passage of historic tax-relief, additional funding for rural workforce housing, allocation of over $1 billion in American Rescue Plan Act (ARPA) funding and maintenance of a cash reserve in excess of $1 billion were among the major accomplishments this session.

Departing Senators

A hearty “Thank you” is extended to the following 13 senators who are departing the Legislature, either due to term limits or as a result of a decision to not seek re-election.

Senator Curt Friesen, District 34
Senator Timothy Gragert, District 40
Senator Matt Hansen, District 26
Senator Robert Hilkemann, District 4
Senator Dan Hughes, District 44
Senator Mark Kolterman, District 24
Senator Steve Lathrop, District 12

​Senator Brett Lindstrom, District 18
Senator John McCollister, District 20
Senator Adam Morefeld, District 46
Senator Patty Pansing Brooks, District 28
Senator John Stinner, District 48
Senator Matt Williams, District 36

A special thanks to former NBA Chairs John Stinner and Matt Williams for their contributions in providing experience on banking and business issues for the betterment of the legislative process.

Elections on Tap

The Primary Election is just around the corner (May 10), with the General Election to follow on November 8. In addition to races for Congress and state constitutional offices, 24 seats are up for election in the Nebraska Legislature. With 11 incumbents running and 13 open seats, there will be many new faces when the Unicameral reconvenes in early January 2023.
 
A special election will also be held on June 28 to fill the 1st Congressional District seat vacated by the resignation of Congressman Jeff Fortenberry. State Senators Mike Flood (Norfolk) and Patty Pansing Brooks (Lincoln) will face off in the special election, with the winner filling out the remainder of the term through the end of the year.

Interim Studies

Interim study resolutions form the basis for issues to be examined in-depth during the interim between legislative sessions. Some resolutions may involve formal public hearings, while others may result in informal meetings between interested parties or simply research of the issues.

Interim study resolutions of interest to the NBA include the following:

LR 330 - Interim study to determine what percentage should be used to forecast revenue when preparing fiscal notes and determine if state agencies or political subdivisions should use the same percentage
 
LR 333 - Interim study to examine modernization of Nebraska's tax system with the goal of facilitating economic growth
 
LR 371 - Interim study to review the requirements regarding occupational regulation as administered by the Department of Banking and Finance
 
LR 372 - Interim study to examine whether the Real Property Appraiser Act should be updated
 
LR 383 - Interim study to explore best practices for the implementation of a consumption tax in Nebraska
 
LR 393 - Interim study to examine the committee hearing procedures of the Legislature
 
LR 400 - Interim study to examine current farm economic conditions in Nebraska and how best to aid and support beginning farmers and livestock and dairy producers in the state
 
LR 401 - Interim study to review the administration of the Nebraska Broadband Bridge Act
 
LR 418 - Interim study to examine the sales tax system in Nebraska with respect to exemptions provided to various industries
 
LR 422 - Interim study to examine issues related to the Middle Income Workforce Housing Investment Act
 
LR 463 - Interim study to examine the structure and administration of and compliance with certain taxes

Session Wrap-Up

A complete review of actions taken by the Legislature on bills of interest to the banking industry will be contained in the NBA Legislative Update Wrap-Up edition, which will be finalized within the next few weeks. The NBA has begun preparation for the 2023 Legislative Session as the Government Relations Committee summer meeting will be conducted on June 6, at which time recommendations for legislation to be introduced during the 2023 session will be forwarded to the NBA Board of Directors for further consideration. Please feel free to contact the NBA if you have suggestions regarding the need for banking legislation on the state level. The NBA will be busy in the months to come participating in the interim studies set forth above.