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Governors Budget Bills Prioritized

By John Nixon

03/15/2017

(KLZA)-- Bills introduced in the unicameral, backed by Governor Peter Ricketts have been prioritized in the Nebraska Legislature.

One of the bills is reduce income taxes and change ag-land values from a market approach to more of an income approach.

Another bill would change the state aid to schools formula. LB-265 would provide a minimum amount of state aid to schools, starting at $1,500 per student and increasing to $5,500 per student to increase state aid to schools, and lower the burden on property taxes to support local schools.

Other priority bills also intend to cap the value of agricultural land for school funding by lowering the percentage of agricultural land used to calculate local resources in the school state aid formula from 72-percent, to 20-percent. LB-640 would cap the property tax portion of total General Fund Revenue used for school districts at 60 percent and lowers the maximum levy for school districts from $1.05 to $1.00 per $100 of taxable valuation.

These bills are all to be debated by the full legislature before the 90-day session ends.

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