Nebraska § 77-1033 Transfer of incentives; when; liability
for recapture

Nebraska Statutes

§ 77-1033 — Transfer of incentives; when; liability for recapture

Nebraska § 77-1033

Ch. 77Revenue and Taxation

This text of Nebraska § 77-1033 (Transfer of incentives; when; liability for recapture) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 77-1033 (2026).

Text

(1)The incentives allowed under the Nebraska Advantage Transformational Tourism and Redevelopment Act may be transferred when a project covered by an agreement is transferred in its entirety by sale or lease to another taxpayer or in an acquisition of assets qualifying under section 381 of the Internal Revenue Code of 1986, as amended.

(2)The acquiring taxpayer, as of the date of notification of the municipality of the completed transfer, shall be entitled to any future incentives allowable under the act.

(3)The acquiring taxpayer shall be liable for any recapture that becomes due after the date of the transfer for the repayment of any incentives received either before or after the transfer.

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(1)
The incentives allowed under the Nebraska Advantage Transformational Tourism
and Redevelopment Act may be transferred when a project covered by an agreement
is transferred in its entirety by sale or lease to another taxpayer or in
an acquisition of assets qualifying under section 381 of the Internal Revenue
Code of 1986, as amended.
(2) The acquiring
taxpayer, as of the date of notification of the municipality of the completed
transfer, shall be entitled to any future incentives allowable under the act.
(3) The acquiring
taxpayer shall be liable for any recapture that becomes due after the date
of the transfer for the repayment of any incentives received either before
or after the transfer.