NE LB699

Amends section 77-6831 of the ImagiNE Nebraska Act to clarify sales and use tax refund procedures for contractors purchasing building materials at qualified business locations

Allows contractors who have elected to be taxed as consumers of building materials under section 77-2701.10 and have already paid sales tax to certify the amount paid to the taxpayer, who can then claim a refund as if the taxes were incurred directly

Provides that contractors who elected consumer taxation but have not yet paid sales or use tax shall have their purchases exempt from such taxes as if made directly by the qualifying taxpayer

Directs the Tax Commissioner to issue rules, regulations, certificates, and forms to implement efficient use of the sales and use tax exemption for contractor material purchases

Repeals the original section 77-6831 from the Revised Statutes Cumulative Supplement, 2024