Nebraska § 77-1110 Qualified equity investment, defined

Nebraska Statutes

§ 77-1110 — Qualified equity investment, defined

Nebraska § 77-1110

Ch. 77Revenue and Taxation

This text of Nebraska § 77-1110 (Qualified equity investment, defined) 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. § 77-1110 (2026).

Text

(1)Qualified equity investment means any equity investment in, or long-term debt security issued by, a qualified community development entity that:

(a)Is acquired after January 1, 2012, at its original issuance solely in exchange for cash;

(b)Has at least eighty-five percent, or one hundred percent with respect to the 2021 allocation, of its cash purchase price used by the issuer to make qualified low-income community investments in qualified active low-income community businesses located in this state by the first anniversary of the initial credit allowance date;

(c)Is designated by the issuer as a qualified equity investment and, with respect to awards of the 2021 allocation pursuant to subsection (6) of section 77-1116 , is designated by the issuer as a qualified equity investment

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(1) Qualified equity investment means any equity investment in, or long-term debt security issued by, a qualified community development entity that:
(a) Is acquired after January 1, 2012, at its original issuance solely in exchange for cash;
(b) Has at least eighty-five percent, or one hundred percent with respect to the 2021 allocation, of its cash purchase price used by the issuer to make qualified low-income community investments in qualified active low-income community businesses located in this state by the first anniversary of the initial credit allowance date;
(c) Is designated by the issuer as a qualified equity investment and, with respect to awards of the 2021 allocation pursuant to subsection (6) of section 77-1116 , is designated by the issuer as a qualified equity investment under section 45D of the Internal Revenue Code of 1986, as amended; and
(d) Is certified by the Tax Commissioner as not exceeding the limitation contained in section 77-1115 .
(2) The term includes any qualified equity investment that does not meet the requirements of subdivision (1)(a) of this section if such investment was a qualified equity investment in the hands of a prior holder.