NE LB200

Reinstates the Personal Property Tax Relief Act exemptions for tax years after 2024, providing a $10,000 exemption from taxation on the first $10,000 of tangible personal property valuation in each tax district where a personal property return is filed

Requires the state to reimburse taxing subdivisions for lost tax revenue resulting from the personal property tax exemptions, with payments distributed in two installments on the last business days of February and June

Applies a compensating exemption factor to railroads, car line companies, public service entities, and air carriers to reflect the exemption provided to other personal property taxpayers

Amends seven sections of Nebraska Revised Statutes (77-202, 77-693, 77-801, 77-1238, 77-1239, 77-1248, and 77-1514) to change language from "prior to tax year 2020" to "after tax year 2024"

Requires county assessors to prepare and file abstracts of locally assessed personal property with the Property Tax Administrator on or before July 20 for tax years after 2024