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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 nameNebraska Advantage Rural Development Act
Program purpose: Rural development
Statutory authority: Neb. Rev. Stat. §§ 77-27,187 through 77-27,196.01
Abating jurisdiction(s): State of Nebraska
Applicable taxesProperty Tax; Sales and Use Tax; Income Tax
Method of abatement: Tax Credit; Tax refund
Provisions for recapture: If a taxpayer with a Level 1 or Level 2 project fails to attain 75% of investment or employment estimates or to maintain required employment and investment levels for three years after the year of qualification, all benefits will be recaptured. If a taxpayer with a livestock modernization project fails to attain 75% of investment estimates, all benefits will be recaptured.
Gross revenue loss: $1,217,000
Reimbursement / offset: $0
Net revenue loss: $1,217,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://das.nebraska.gov/accounting/fin-report.html