Nebraska state budget (2012-2013)

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See also: Archived Nebraska state budgets

The FY 2012-13 state budget was passed by the Nebraska State Senate during the 2011 session and can be found here. The Senate then adjusted the budget during the 2012 session. Those amendments can be found here.

The state's $7.1 billion budget for FY 2013 was contained in multiple bills before the Senate. The deficit spending bill was LB968 and the bill addressing fund transfer was LB969. The Senate approved the bills making up the $7.1 billion budget on March 27, 2012.[1] Governor Dave Heineman signed the budget bills into law on April 2, 2012 with no vetoes.[2]Cite error: Invalid <ref> tag; name cannot be a simple integer. Use a descriptive titleCite error: Invalid <ref> tag; name cannot be a simple integer. Use a descriptive title

Budget bills

LB968 was the main budget bill. The legislature approved it with a vote of 45-2.[1][3]

LB131, the cash reserve bill, included $80 million in capital construction, primarily for higher education projects. The legislature voted 43-2 in favor of passage.[1][4]

LB969 was the bill that permitted fund transfers, which the legislature passed with a vote of 43-3.[1][5]

The governor said he believed a highlight of the budget was $71 million for a new University of Nebraska cancer research center.[2] It also increased state spending on child welfare and child care services and rolled back some cuts in Medicaid payments to health care providers.[2]

Tax relief

In Jan. 2012, Senator Abbie Cornett introduced a tax relief plan contained in LB970 on behalf of the governor. The plan as originally proposed would have cut $327 million in taxes by eliminating the inheritance tax and lowering individual and corporate income taxes.[6] The three-year plan cost roughly $52 million for that budget period, eating up a large chunk of the $63 million that was available under the Appropriations Committee's tentative budget.[7] The governor said in his State of the State address that he planned to expand the brackets for middle-class residents.[8] In the legislature, however, the governor's tax cut proposal shrunk to one-third of its original size.[9][10]

References