Nebraska § 77-6308 Tax credit recaptured; when; director;
powers and duties

Nebraska Statutes

§ 77-6308 — Tax credit recaptured; when; director; powers and duties

Nebraska·Ch. 77 Revenue and Taxation

(1)If, at any time within six years after the allocation of tax credits is made, the director determines that a qualified investor or qualified fund did not meet the three-year holding period required in section 77-6306 , any tax credit allocated and certified to the investor or fund shall be recaptured. The director shall notify the Tax Commissioner of such determination, and the Tax Commissioner shall recapture the tax credits.

(2)The director shall, to the extent possible, assure that the allocation of such tax credits provides equitable access to the benefits provided by the Angel Investment Tax Credit Act by all geographic areas of the state.

(3)The director may engage in contractual relationships with a statewide public or private nonprofit organization which shall serve as the a

Free access — add to your briefcase to read the full text and ask questions with AI

(1) If, at any time within six years after the allocation
of tax credits is made, the director determines that a qualified investor
or qualified fund did not meet the three-year holding period required in section 77-6306 , any tax credit allocated and certified to the investor or fund shall
be recaptured. The director shall notify the Tax Commissioner of such determination,
and the Tax Commissioner shall recapture the tax credits.
(2) The director
shall, to the extent possible, assure that the allocation of such tax credits
provides equitable access to the benefits provided by the Angel Investment
Tax Credit Act by all geographic areas of the state.
(3) The director may engage
in contractual relationships with a statewide public or private nonprofit
organization which shall serve as the agent for the Department of Economic
Development in order to effect the purposes and fulfill the requirements of
the act.

Nebraska § 77-6308 (Tax credit recaptured; when; director; powers and duties) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.