77-5542. Report; contents; joint hearing.

234 words·~1 min read·/ne/chapter-77/77-5542

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The Department of Revenue shall submit electronically an annual report to the Legislature no later than July 15 each year. The report shall list

(a)the agreements which have been signed during the previous calendar year,

(b)the agreements which are still in effect,

(c)the identity of each company, and

(d)the location of each project. The department shall, on or before September 1 of each year, appear at a joint hearing of the Appropriations Committee of the Legislature and the Revenue Committee of the Legislature and present the report. Any supplemental information requested by three or more committee members shall be presented within thirty days after the request.

(2)The report shall also state by industry group

(a)the amount of wage benefit credits and investment tax credits allowed under the Invest Nebraska Act,

(b)the number of direct jobs created at the projects,

(c)the amount of direct capital investment under the act,

(d)the estimated wage levels of jobs created by the companies at the projects,

(e)the estimated indirect jobs and investment created on account of the projects, and

(f)the projected future state and local revenue gains and losses from all revenue sources on account of the direct and indirect jobs and investment created on account of the projects.

(3)No information shall be provided in the report that is protected by state or federal confidentiality laws.