SCC Budget After LB 243
Southeast Community College applauds Gov. Pillen and state senators for passing legislation that provides property tax relief and commits state aid to Nebraska community colleges. By creating the Community College Future Fund, the state of Nebraska is investing in community colleges and is committed to providing funding to ensure the colleges fulfill their mission to provide a skilled workforce and affordable access to higher education within their service areas. LB 243 replaces general-fund tax dollars with state funds by creating a 100% tax credit for property taxpayers for the transition year. Critical details include:
- The baseline year for the new Community College Future Fund, which will begin in 2024-25, is based on the amount generated by the levy rate set in 2023. Based on an analysis of its current and future needs, SCC set its levy rate to utilize its remaining levy rate authority.
- To avoid a negative impact on the taxpayer as the community colleges transition to the new model, LB 243 includes a 100% tax credit for community college taxes paid based on the rate set in 2023.
- Beginning in 2024-25, the community colleges will no longer have general taxing authority unless the Community College Future Fund cannot be fully funded.
Additional Resources
Information about LB243/Community College Future Fund
Information about the 100% Property Tax Credit
SCC’s Plan for the new funding model
SCC Board approves preliminary budget (June 2023)
SCC Board of Governors Approves 8.5-Cent Levy Rate
Following is the response from SCC Board Chair Neal Stenberg to Sen. Robert “Bob” Dover’s letter dated June 30, 2023. Sen. Dover and numerous other senators submitted a letter to the SCC Board of Governors requesting that the Board reconsider its June 20, 2023, action to increase its General Fund levy by 1.88 cents per $100 of assessed valuation.
Board Response to Sen. Dover Letter
Nebraska Property Tax Credit information, including forms and the look-up tool.