2015 Nebraska Revised Statutes
Chapter 77 - REVENUE AND TAXATION
77-2904 Credit; amount; claim; approval; procedure.
77-2904. Credit; amount; claim; approval; procedure.
(1) Any person incurring eligible expenditures may receive a nonrefundable credit against any income tax imposed by the Nebraska Revenue Act of 1967 or any tax imposed pursuant to sections 77-907 to 77-918 or 77-3801 to 77-3807 for the year the historically significant real property is placed in service. The amount of the credit shall be equal to twenty percent of eligible expenditures up to a maximum credit of one million dollars.
(2) To claim the credit authorized under this section, a person must first apply and receive an allocation of credits and application approval under section 77-2905 and then request and receive final approval under section 77-2906.
(3) Interest shall not be allowed on any refund paid under the Nebraska Job Creation and Mainstreet Revitalization Act.
Source
- Laws 2014, LB191, § 4;
- Laws 2015, LB261, § 12.
- Operative Date: March 6, 2015
Cross References
- Nebraska Revenue Act of 1967, see section 77-2701.
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