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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 In2019
Program nameBeginner Farmer Tax Credit Act
Program purpose: Agricultural development
Statutory authority: Neb. Rev. Stat. §§ 77-5201 through 77-5215
Abating jurisdiction(s): State of Nebraska
Applicable taxesProperty Tax; Income Tax
Method of abatement: Tax Exemption; Tax Credit
Provisions for recapture: This credit is subject to recapture if the three-year lease agreement is terminated with fault on the part of the owner of the agricultural assets.
Gross revenue loss: $1,619,000
Reimbursement / offset: $0
Net revenue loss: $1,619,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://das.nebraska.gov/accounting/fin-report.html