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FOR IMMEDIATE RELEASE:
July 15, 2009

FOR INFORMATION CONTACT:
Douglas A. Ewald, Tax Commissioner
(402) 471-5604
Mary Hugo, Economic Incentive Manager
(402) 471-5790
mary.hugo@nebraska.gov

ANNUAL REPORT TO THE NEBRASKA LEGISLATURE ON TAX INCENTIVES

LINCOLN — The Nebraska Department of Revenue (Department) has provided the Legislature with the 2008 Annual Report on Nebraska Tax Incentives for the following programs:

• Nebraska Advantage Act;
• Nebraska Advantage Rural Development Act;
• Nebraska Advantage Microenterprise Tax Credit Act;
• Nebraska Advantage Research and Development Act;
• Employment and Investment Growth Act (LB 775);
• Employment Expansion and Investment Incentive Act;
• Invest Nebraska Act; and
• Quality Jobs Act.

The Nebraska Advantage Act requires disclosure of project-specific information on total tax incentives received every two years. As of December 31, 2008, no projects had received tax incentives for two years, so no project-specific information is included in this report. It is expected that the project-specific information will begin with next year’s Annual Report.

The Nebraska Advantage Rural Development Act also requires disclosure of project-specific information on total tax incentives received every two years by Level 1 and Level 2 projects, which require employment as well as investment. As of December 31, 2008, no Level 1 or Level 2 project had received tax incentives for two years, so no project-specific information is included in this report. Livestock modernization or expansion projects, which require investment only, in the Nebraska Advantage Rural Development Act that were approved during 2007 have project-specific information in this report.

In an effort to promote efficiency and technology, the Department has published the Annual Report at http://www.revenue.nebraska.gov/incentiv/annrep/annl_rep.html. This will result in cost savings on printing, paper, and postage expenses.

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APPROVED:
Douglas A. Ewald
Tax Commissioner


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