Legislature advances revenue bill LB650 after trimming incentives, preserves cell-tower tax treatment

Senators in the Nebraska Legislature advanced LB650, a revenue bill designed to raise state receipts by rolling back recent business tax incentives, after a day of amendments and debate in the George W. Norris Legislative Chamber.

The bill, carried and explained on the floor by Senator John von Gillern, would reduce or suspend a set of more recently enacted business tax programs to help close a budget shortfall. "LB650 seeks to increase revenue to the state by pairing back tax programs and business incentives enacted over the past several years," von Gillern said as he opened debate and urged colleagues to support amendments he described as part of a pathway to a balanced budget.

Why it matters: Sponsors and the Appropriations Committee have included LB650 revenue estimates in the current budget plan. Supporters say rolling back some business incentives is preferable to broad-based tax increases; opponents warned the move could harm broadband deployment, small businesses and long-run economic development.

Most important actions and votes - The body adopted a set of technical and scope amendments, including AM 11-18 (adopted, recorded 28…