NE LB107

Creates a new refundable income tax credit for Nebraska renters starting January 1, 2025, equal to the greater of 4% of total annual rent paid or $200, with a maximum credit of $1,000

Rental property must be a house, apartment, or other residential unit used as the individual's primary residence in Nebraska

Reduces the Property Tax Credit Act minimum relief amount for tax year 2030 and beyond from an inflation-adjusted formula to a flat $200 million annually

Eliminates the automatic annual increases to property tax credit funding that were tied to percentage increases in total assessed property values statewide

Amends Nebraska Revised Statutes sections 77-2715.07 and 77-4212 to implement these changes