Greetings from your State Capitol. The Legislature finished the first round of debate on LB939 this week. LB939 would lower the corporate and personal income tax rates to 5.8% over the next several year. I believe lowering the tax rate will be beneficial to many Nebraskans. The bill now awaits the second of three rounds of debate by the Legislature.

The Legislature is now over halfway through the short, 60-day session. The body continues to hold debate in the morning and committee hearings in the afternoon. Committee hearings will be finished by the end of next week. At that time, we will begin full-day debate an continue to work on both Senator an Committee priority bills, as well as ARP funding requests and other budget relate funding requests and other budget related bills.

As Chairman of the Banking, Commerce, and Insurance Committee it is my responsibility to choose two priority bills for the Committee each session. The Banking, Commerce, and Insurance Committee has two “Christmas tree” priority bills this year. “Christmas tree” bills have amendments that combine provisions of several bills into one bill.

Bills amended into a “Christmas tree” are noncontroversial and generally technical in nature. This process helps reduce valuable debate time on the floor of the Legislature. LB707 is the Committee’s “banking” priority bill and contains provisions of nine total bills relating to banking, finance, and commerce. LB863 is the Committee’s “insurance” priority bill. LB863 contains provisions of seven total bills relating to insurance.

I would also like to extend a warm welcome to a new colleague, Mike Jacobson, who was appointed to the Legislature by the Governor. I have known Mike for many years. He will be a strong voice for the people of District 42.

Again, I’d like to extend a special congratulations to the wrestlers that competed in the Nebraska State Wrestling Tournament and a “good luck” to all the basketball teams in their sub-district and district matchups!

Matt