Exempts income received by certificated teachers, paraeducators, and paraprofessionals from state income taxation.
Nebraska LB1206 amends the state's revenue laws to exempt income received by certificated teachers, paraeducators, and paraprofessionals from state income taxation. This bill provides specific adjustments and exclusions to federal adjusted gross income for various income sources, including retirement benefits, educational savings plans, and military service-related income. It also includes provisions for reducing federal adjusted gross income for certain contributions and benefits, such as those related to the Nebraska educational savings plan and the Medical Debt Relief Fund.
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