LB582

Nebraska LB582 revises the tax on cash devices, altering the distribution of collected taxes and changing the revenue submission to the Nebraska.

Nebraska LB582 modifies the Mechanical Amusement Device Tax Act by changing the tax rate on cash devices to five percent of net operating revenue. It also alters how collected taxes are distributed: 20% to the Charitable Gaming Operations Fund, 2.5% to the Compulsive Gamblers Assistance Fund, 22.5% to the General Fund, 47.5% to the Education Future Fund, 40% to the Property Tax Credit Cash Fund, and the remaining 25% to the county treasurer for distribution based on the device's location.