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  • About
    • Membership
    • News >
      • NBA Membership Update
    • Boards and Committees
    • Alice Dittman Trailblazer Award
    • NBA Foundation >
      • Scholarships
    • Leadership Program
    • Staff Directory >
      • Contact Us
  • Workforce
    • Student Membership
    • Careers
    • Post Job Openings
  • Advocacy
    • Legislative Update
    • BankPAC
    • Comment Letters
  • Compliance
    • Handbook
    • Compliance Update
    • Compliance Alliance
  • Education + Events
    • Event Calendar
    • In-person Events/Training
    • Webinars
    • ABA Training
    • Banking Schools
    • CYBERSECURITY TRAINING
    • Sponsorships and Exhibits
    • Young Bankers (YBON)
  • Insurance
    • Agency Services >
      • Commercial Insurance
      • Personal Insurance
      • Livestock, Irrigation and Farm Insurance
      • Surety Bonds
    • Bank Property & Liability >
      • GloveBox - Bank Property & Liability
    • Financial Institution Insurance >
      • GloveBox - Bank Property & Liability
    • Benefit Plans
  • Bank Resources
    • Preferred Vendors
    • Associate Members
    • Marketing Resources
    • Financial Literacy
    • Single Bank Pooled ​Collateral Program
    • Bank Security
    • Compensation & Benefits Survey

LEGISLATIVE uPDATE

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July 19, 2024

7/19/2024

 
2024 Special Session

Special Session to Address Property Tax Relief

Governor Jim Pillen has announced his intention to call the Legislature back for a special session to address property tax relief. The 2024 Special Session is expected to begin on Thursday, July 25. According to a memorandum from Speaker of the Legislature John Arch (La Vista), the first three days (July 25-27) will be used for bill introduction. Hearings on bills introduced are expected to occur Monday, July 29. During the special session, senators can introduce their own legislative proposals, assuming they fall within the parameters outlined in the Governor's call for the special session.

Although there is a lot of uncertainty in the details, Governor Pillen has released some specifics of his plan. The plan includes:
  • "Hard caps" on local government tax collections for cities, villages and counties. The expected cap would be the greater of 0% or the consumer price index. Exceptions would exist for a vote of the people and for public safety needs.
  • Shifting K-12 school funding from property taxes to the state. This will be phased in over a three-year period.
  • Eliminating roughly 120 sales and use tax exemptions. Exemptions would remain for food, medicine and other "essential" items.
  • Significant increase in "sin" taxes on cigarettes, vaping, spirits, keno, games of skill and consumable hemp products.

Due to time constraints, the NBA Board of Directors and Government Relations Committee are scheduled to have a joint meeting on Monday, July 29, to review the proposals introduced and determine the NBA's position.

Sign Up for the Special Session Legislative Review

The NBA Government Relations team plans to offer a special session legislative review via Zoom on Monday, July 29, at 3:30 p.m. CDT. Your NBA team will continue to keep you up to date as the 2024 Special Session progresses.
​Register
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Nebraska Bankers Association

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Lincoln, NE 68508
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