NE LB714

Increases county treasurer retention of motor vehicle tax proceeds from 1% to 2% for administrative costs

Revises motor vehicle tax allocation: counties receive 40% (up from 22%), school districts receive 37% (down from 60%), and cities/villages receive 23% (up from 18%)

Reduces motor vehicle tax depreciation fractions across all vehicle age categories, resulting in lower taxes for vehicles in years 2-13, with vehicles 14+ years old paying a nominal $0.01 tax instead of zero

Increases motor vehicle fees significantly, including automobiles under $20,000 rising from $5 to $20, and extends the base tax schedule to cover vehicles valued up to $200,000 (previously capped at $100,000)

Changes Motor Vehicle Fee Fund distribution from 50/50 split to 70% for counties and 30% for municipalities, effective January 1, 2026