The Nebraska Economic Development Task Force has recommended the Legislature move up the end date for the Nebraska Advantage Act and Rural Advantage Act and to terminate the New Farmer Credit, Historic Tax Credit and the New Markets Tax Credit. Most of those are important for agriculture and Nebraska Farm Bureau Senior Economist Jay Rempe says that’ll be a big discussion for the 2019 Unicameral.
He’s hoping legislators will take a serious look at how to improve those tax incentive programs and replace any that are terminated.
Rempe says his group wants to see livestock development continue to grow in Nebraska and that is also a part of the Nebraska Advantage Act.
The Nebraska Chamber of Commerce and Industry wants the Task Force to reconsider their recommendation. Their director says it’s clear the state needs tax incentives to be competitive.
