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.
| State: | Nebraska |
| Effected Jurisdiction: | Nebraska |
Jurisdiction type: | State |
| Fiscal year ending In: | 2021 |
| Program name: | New Market Job Growth Investment Tax Credit |
| Program purpose: | Community development |
| Statutory authority: | Nebraska Revised Statutes s. 77-1101 through 77-1119 |
| Abating jurisdiction(s): | State of Nebraska |
| Applicable taxes: | Income Tax; Insurance Premium Tax; Franchise Tax |
| Method of abatement: | Tax Credit |
| Provisions for recapture: | The Act provides that credits may be recaptured in several situations. First, credits may be recaptured if any amount of the federal qualified equity investment credit is recaptured. Second, credits may be recaptured if the CDE redeems or repays some or all of the principle of the investment prior to the last credit allowance date. Finally, credits may be recaptured if the CDE fails to invest pursuant to, and satisfy the requirements of, the program and maintain its investment in a qualified lowincome community investment in Nebraska until the last credit allowance date. |
| Gross revenue loss: | $11,416,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $11,416,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | (none) |
| Document source: | https://das.nebraska.gov/accounting/fin-report.html |
