NE LB901

Reduces Nebraska's state sales and use tax rate from 5.5% to a new rate (marked as "XX" in the bill, to be determined) effective July 1, 2027

Modifies Highway Allocation Fund distributions so that sales tax proceeds from motor vehicle, trailer, and semitrailer sales exceeding the new reduced rate (rather than the current 5% threshold) are credited to this fund

Maintains existing allocations for specific tax revenues, including credits to the Game and Parks Commission Capital Maintenance Fund, Highway Trust Fund, and Department of Transportation Aeronautics Capital Improvement Fund

Amends sections 77-27,132 and 77-2701.02 of Nebraska's Revised Statutes to implement these changes