NE LB643

Prohibits Nebraska income tax deductions for interest, taxes, and maintenance costs on single-family residential properties for owners with more than 30 parcels held as investment or rental property, effective January 1, 2026

Exempts properties used as the owner's principal residence and properties owned by qualified nonprofit organizations focused on affordable housing (including community land trusts, land banks, public housing agency subsidiaries, and projects under the Affordable Housing Tax Credit Act)

Exempts owners who sell at least 10% of their single-family residential properties annually to buyers who will reside there, or at least 5% to first-time homebuyers

Allows owners to appeal to the Department of Revenue if property was listed at fair market rate for at least 90 days with no good faith offers, permitting deductions if the appeal succeeds