Nebraska LB856 proposes a five percent excise tax on businesses in qualified census tracts, funds a Community Reinvestment Fund, and establishes a.
Nebraska LB856 introduces a five percent excise tax on gas stations, convenience stores, and package liquor stores in qualified census tracts, starting January 1, 2027. The tax revenue will be deposited into the Community Reinvestment Fund, which will finance grants for community development initiatives. The Department of Economic Development will rate businesses annually based on community reinvestment efforts, with top-rated businesses gaining recognition and preference in federal funding.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.