Nebraska LB901 modifies sales tax rates, revenue distribution, and fund allocations for various purposes.

Nebraska LB901 adjusts the sales tax rates for different periods, specifies how tax revenue is distributed among various funds, and modifies the allocation of tax proceeds. It sets new rates for sales and use taxes, effective from July 1, 2027, and details how the revenue from these taxes will be credited to specific funds, including the General Fund, Highway Trust Fund, Highway Allocation Fund, and others. The bill also repeals certain sections related to tax rates and revenue distribution.

Nebraska LB901 modifies sales tax rates, revenue distribution, and fund allocations for various purposes.

Nebraska LB901 adjusts the sales tax rates for different periods, specifies how tax revenue is distributed among various funds, and modifies the allocation of tax proceeds. It sets new rates for sales and use taxes, effective from July 1, 2027, and details how the revenue from these taxes will be credited to specific funds, including the General Fund, Highway Trust Fund, Highway Allocation Fund, and others. The bill also repeals certain sections related to tax rates and revenue distribution.