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Counties urged to oppose measure to eliminate inheritance taxes as legislature weighs LB 468 alternative
Summary
A weekly NACo legislative report urged county officials to contact revenue committee members ahead of a March 12 hearing on LR 13 CA, a proposed constitutional amendment to ban inheritance taxes; the report framed LB 468, a legislative alternative that would reduce rates while reallocating and increasing certain fees, as the preferred option if replacement revenue is preserved.
The presenter said the revenue committee will hear LR 13 CA, a proposed constitutional amendment that would prohibit the state and any political subdivision from levying an inheritance tax, at a March 12 hearing and urged county officials to oppose the amendment unless sustainable replacement revenue is specified.
“LR 13 CA states that the state and any political subdivisions are prohibited from levying an inheritance tax,” the presenter said, and added that “if the legislature passes LR 13 CA, it will be placed before voters at the November 26 general election.”
The report presented LB 468 as a…
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