State Codes and Statutes

Statutes > Nebraska > Chapter77 > 77-6204

77-6204. County treasurer; distribute revenue;calculation.(1) The county treasurer shall distribute all revenue receivedfrom the Department of Revenue pursuant to section 77-6203 to local taxingentities which, but for such personal property tax exemption, would have receiveddistribution of personal property tax revenue from depreciable personal propertyused directly in the generation of electricity using wind as the fuel source.(2) A localtaxing entity's status as eligible for distribution under subsection (1) ofthis section shall not be affected when and if the net book value of personalproperty used directly in the generation of electricity using wind as thefuel source becomes zero. A local taxing entity's status as eligible for distributionunder such subsection shall be affected by the disposal of all of the exemptdepreciable personal property used directly in the generation of electricityusing wind as the fuel source.(3) The distribution to each eligible localtaxing entity shall be calculated by determining the amount of taxes thatthe eligible local taxing entity levied during the taxable year and dividingthis amount by the total tax levied by all of the eligible local taxing entitiesduring the year. Each eligible entity's resulting fraction shall then be multipliedby the revenue distributed to the county treasurer by the department to determinethe portion of such revenue due each local taxing entity.(4) The Departmentof Revenue shall not retain any revenue collected pursuant to sections 77-6201to 77-6204 for distribution, use, transfer, pledge, or allocation to or fromthe General Fund. SourceLaws 2010, LB1048, § 15.Effective Date: July 15, 2010