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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionNebraska
Jurisdiction type: State
Fiscal year ending In2018
Program nameNew Market Job Growth Investment Tax Credit
Program purpose: Community development
Statutory authority: Nebraska Revised Statutes 77-1101 through 77-1119
Abating jurisdiction(s): State of Nebraska
Applicable taxesIncome Tax; Insurance Premium Tax; Franchise Tax
Method of abatement: Tax Credit
Provisions for recapture: Credits may be recaptured if 1) any amount of the federal qualified equity investment credit is recaptured; 2) the Community Development Entity (CDE) redeems or repays some or all of the principle of the investment prior to the last credit allowance date; 3) the CDE fails to invest and satisfy the requirements of the program and maintain its investment in a qualified low-income community investment in Nebraska until the lsat credit allowance date.
Gross revenue loss: $13,787,000
Reimbursement / offset: $0
Net revenue loss: $13,787,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://das.nebraska.gov/accounting/fin-report.html