Nebraska lawmakers could approve the $9.7 billion, two-year state budget yet this week after giving it second-round approval with only a few tweaks.
Both chambers have passed initial proposals, but the debate on how Wyoming should pay for its schools is far from over.
The Nebraska Economic Forecasting Advisory Board has raised its tax revenue forecast for the period ending June 30, 2023, by $462 million.
During an exchange with Gov. Pete Ricketts' budget director Friday, State Sen. John Stinner said Gov. Pete Ricketts was "violating the spirit" of a law passed last year by directing an extra $88 million to the state's cash reserve to trigger additional property tax relief.
"It gave us time to work on it," said Sen. Lou Ann Linehan, the bill's sponsor.
The Big Ten has decided not to play football this fall. For Nebraska and the city of Lincoln, that choice comes at a high price.
The Nebraska Legislature debated making budget cuts and increasing aid to families before ultimately advancing the budget bills just as they had been put forth.
The state of Nebraska closed out its last fiscal year with barely $10 million to spare for any new spending or tax cuts.
Nebraska lawmakers on Thursday advanced a budget that leaves nearly $134 million for property tax relief and business tax incentives. It also would more than double the state’s cash reserve, sometimes called the state’s rainy day fund.
State officials will have to watch closely to see whether the increase in collections reflects a brightening state economy or just a temporary response to federal tax changes.
Gov. Pete Ricketts says the Appropriations Committee should now add the full $51 million in property tax relief he recommended in his budget, but no one on the committee offered a motion to change the $26 million allocated for property tax credits.
The Nebraska athletic department will likely dip into reserve funds to cover the remaining money owed to former men’s basketball coach Tim Miles and any of his assistants that are not retained.
In his annual State of the State speech, governor says property tax relief is "the No. 1 priority Nebraskans want as I travel the state."
The new estimate leaves the state with a $232 million gap between projected revenues and estimated expenses through June 30, 2021
Nebraska Gov. Pete Ricketts and State Sen. Bob Krist locked horns on property taxes, prisons and more during their first debate of this fall's race to be Nebraska's next governor.
Legislative Bill 946 deals with the state's cash reserve fund, and it advanced to the next round of debate on a 34-9 vote.
The Nebraska athletic department again will dip into reserve funds to cover the remaining money owed to head coach Mike Riley and any of his assistants that are not retained.
The plan is intended to close a budget gap pegged at nearly $900 million through June 30, 2019.
LINCOLN — Gov. Dave Heineman renewed his call for tax cuts Tuesday after a new report showed the state ended its fiscal year with a record amo…