Nebraska § 77-6304 Pass-through
entity; certification as qualified fund; application; form; director; duties;
qualification; eligibility for tax credits

Nebraska Statutes

§ 77-6304 — Pass-through entity; certification as qualified fund; application; form; director; duties; qualification; eligibility for tax credits

Nebraska § 77-6304

Ch. 77Revenue and Taxation

This text of Nebraska § 77-6304 (Pass-through entity; certification as qualified fund; application; form; director; duties; qualification; eligibility for tax credits) 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. § 77-6304 (2026).

Text

(1)A pass-through entity may apply to the director for certification as a qualified fund for a calendar year. The application shall be in the form and be made under the procedures specified by the director.

(2)Within thirty days after receiving an application for certification under this section, the director shall certify the pass-through entity as satisfying the conditions required of a qualified fund, request additional information, or deny the application. If the director requests additional information, the director shall certify the pass-through entity or deny the application within thirty days after receiving the additional information. If the director neither certifies the pass-through entity nor denies the application within thirty days after receiving the original application o

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(1)
A pass-through entity may apply to the director for certification as a qualified
fund for a calendar year. The application shall be in the form and be made
under the procedures specified by the director.
(2) Within thirty days after receiving an application for
certification under this section, the director shall certify the pass-through
entity as satisfying the conditions required of a qualified fund, request
additional information, or deny the application. If the director requests
additional information, the director shall certify the pass-through entity
or deny the application within thirty days after receiving the additional
information. If the director neither certifies the pass-through entity nor
denies the application within thirty days after receiving the original application
or within thirty days after receiving the additional information requested,
whichever is later, then the application is deemed approved if the pass-through
entity meets the qualifications in subsection (3) of this section. A pass-through
entity that applies for certification and is denied may reapply.
(3) To be certified, a pass-through entity shall:
(a) Invest or intend to invest in qualified small businesses;
and
(b) Have at least three separate investors who satisfy the conditions in section 77-6305 .
(4) A qualified fund may consist of equity investments or
notes that pay interest or other fixed amounts, or any combination of both.
(5) In order for a qualified investment in a qualified small
business to be eligible for tax credits, a qualified fund that makes the qualified
investment shall have applied for and received certification for the calendar
year in which the qualified investment was made prior to making the qualified
investment.