Nebraska Revised Statutes — Chapter 77 (Revenue and Taxation)
Neb. Rev. Stat. § 77-1033
Transfer of incentives; when; liability for recapture
# (1)
The incentives allowed under the Nebraska Advantage Transformational Tourism and Redevelopment Act may be transferred when a project covered by an agreement is transferred in its entirety by sale or lease to another taxpayer or in an acquisition of assets qualifying under section 381 of the Internal Revenue Code of 1986, as amended.
# (2)
The acquiring taxpayer, as of the date of notification of the municipality of the completed transfer, shall be entitled to any future incentives allowable under the act.
# (3)
The acquiring taxpayer shall be liable for any recapture that becomes due after the date of the transfer for the repayment of any incentives received either before or after the transfer
Source: view the official text
In this chapter (40 sections)
- 77-1013 · Investment, defined
- 77-1014 · Lodging, defined
- 77-1015 · Mixed-use project, defined
- 77-1016 · Nebraska crafts and products center, defined
- 77-1017 · Project, defined
- 77-1018 · Qualified business, defined
- 77-1019 · Qualified property, defined
- 77-1020 · Recreation facility, defined
- 77-1021 · Redevelopment project, defined
- 77-1022 · Related persons, defined
- 77-1023 · Structured parking, defined
- 77-1024 · Taxpayer, defined
- 77-1025 · Tourism attraction, defined
- 77-1026 · Year, defined
- 77-1027 · Year of application, defined
- 77-1028 · Election required; procedures applicable
- 77-1029 · Verification of work eligibility status
- 77-1030 · Application; form; contents; confidentiality; fee;…
- 77-1031 · Incentives; tiers; project requirements; refund of taxes
- 77-1032 · Department of Revenue; duties; review of projects; recapture…
- 77-1033 · Transfer of incentives; when; liability for recapture
- 77-1034 · Refunds; interest not allowable
- 77-1035 · Act; restrictions on use
- 77-1101 · Act, how cited
- 77-1101.01 · Act; purposes
- 77-1102 · Definitions, where found
- 77-1103 · Applicable percentage, defined
- 77-1104 · Credit allowance date, defined
- 77-1105 · Letter ruling, defined
- 77-1106 · Long-term debt security, defined
- 77-1107 · Purchase price, defined
- 77-1108 · Qualified active low-income community business, defined
- 77-1109 · Qualified community development entity, defined
- 77-1110 · Qualified equity investment, defined
- 77-1111 · Qualified low-income community investment, defined
- 77-1112 · Tax credit, defined
- 77-1113 · Vested tax credit; utilization
- 77-1114 · Tax credit; not refundable or transferable; allocation; carry…
- 77-1115 · Tax Commissioner; limit tax credit utilization
- 77-1116 · Qualified community development entity; application;…