A core function of OpenSky Policy Institute is to provide reliable data, information, and solutions regarding revenue proposals and existing policies in an effort to put the state on a sustainable long-term growth path that balances the needs of its citizens with the capacity of the revenue structure.
Nebraska’s major tax incentive programs are expensive and have long tails that cause the state to forgo revenue for decades. The programs also lack transparency regarding how the incentive dollars are used and this makes it difficult for Nebraskans to know if incentives are a good investment. Two proposals before the Revenue Committee today -- LB 1025 and LB 1045 -- would help address these issues and in so doing help protect funding for other vital services and ensure tax incentives are a good use of state resources.
LB 974, as amended by AM 2433, would significantly change school funding in Nebraska and raises concerns about fiscal sustainability and equity in educational opportunities.
One of the many concerns raised about LB 974, the Revenue Committee’s property tax proposal, is that it would tie school spending to the Consumer Price Index (CPI) measure of inflation.
Nebraska relies more on local property taxes to fund public schools than 48 other states.[1] LB 1073 -- which will be the focus of an Education Committee hearing on Tuesday -- could reduce our reliance on property taxes while maintaining the equalization principle of the state’s school funding formula.
AM2207 to LB 720 – which will be the focus of a Revenue Committee hearing today – does little to alleviate concerns about the fiscal impact and quality of jobs raised by [...]
LB 974, a bill that would significantly change school funding in Nebraska and is the focus of a Revenue Committee hearing today, raises concerns about fiscal sustainability and equity in educational opportunities.
School spending has been a frequent discussion point as Nebraska lawmakers have worked to find ways to reduce our high reliance on property taxes to fund K-12 education. Below we examine some key factors regarding the way our state’s public schools utilize their funding.
As lawmakers prepare for the upcoming legislative session, we reflect back on some of the themes covered at our 2019 Fall Policy Symposium in an effort to help policymakers and others prepare for the important economic development discussions that will take place in the State Capitol starting in January.
Recent news of rosier revenue forecasts has triggered calls to use projected revenue surpluses to fund property tax cuts. However, basing ongoing fiscal obligations such as tax cuts or new spending on revenue projections is incredibly risky and could force future tax increases or funding cuts to vital services like Nebraska’s public schools.
Read about ways LB 720 can be changed to buffer its impact on the state's ability to invest in key priorities.
