Nebraska LB803: Adopt the First-Time Home Buyer Savings Account Act and change provisions relating to the Sports Arena Facility Financing Assistance Act, the Property Tax Growth Limitation Act, the Domestic Violence and Human Trafficking Service Providers Tax Credit Act, property tax valuation and levy procedures, homestead exemptions, and income taxes

What the bill says

A bill FOR AN ACT relating to revenue and taxation; to amend sections 13-3105, 77-1315, and 77-3510, Reissue Revised Statutes of Nebraska, sections 13-3108, 77-1502, 77-1601, 77-1776, and 77-3512, Revised Statutes Cumulative Supplement, 2024, sections 13-3103, 13-3106, 13-3403, 77-1632, 77-2716, and 77-3506, Revised Statutes Supplement, 2025, and section 2, Legislative Bill 901, One Hundred Ninth Legislature, Second Session, 2026; to adopt the First-Time Home Buyer Savings Account Act…

From the enrolled text:

A BILL FOR AN ACT relating to revenue and taxation; to amend sections 13-3105, 77-1315, and 77-3510, Reissue Revised Statutes of Nebraska, sections 13-3108, 77-1502, 77-1601, 77-1776, and 77-3512, Revised Statutes Cumulative Supplement, 2024, sections 13-3103, 13-3106, 13-3403, 77-1632, 77-2716, and 77-3506, Revised Statutes Supplement, 2025, and section 2, Legislative Bill 901, One Hundred Ninth Legislature, Second Session, 2026; to adopt the First-Time Home Buyer Savings Account Act; to change provisions relating to the Sports Arena Facility Financing Assistance Act, the Property Tax Growth Limitation Act, property tax valuation and levy procedures, and homestead exemptions; to require a joint public hearing regarding property tax valuation and political subdivision budgets; to provide an adjustment to income for income tax purposes; to change provisions relating to certain refundable income tax credits; to harmonize provisions; to provide operative dates; to repeal the original sections; to outright repeal sections 77-1630 and 77-1634, Revised Statutes Cumulative Supplement, 2024, section 77-1631, Revised Statutes Supplement, 2025, and section 77-1633, Revised Statutes Supplement, 2025, as amended by section 1, Legislative Bill 384, One Hundred Ninth Legislature, Second Session, 2026; and to declare an emergency. Section 1. Sections 1 to 8 of this act shall be known and may be cited as the First-Time Home Buyer Savings Account Act. Sec. 2. The Legislature declares that the purpose of allowing …