Change provisions relating to school funding and property taxes

Summary

LB 1038 proposes to cut the maximum property‑tax levy that Nebraska school districts can impose, dropping it from $1.05 to $0.50 per $100 of taxable valuation beginning in fiscal year 2026‑27. It also revises how taxes from racetracks and cash‑operated gaming devices are distributed, directing larger shares to education‑related funds. The changes aim to reduce local school tax burdens while preserving state funding for education and other programs.

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