Change provisions relating to the amount of relief granted under the School District Property Tax Relief Act

LB 1008 amends Nebraska's School District Property Tax Relief Act to revise the minimum annual funding levels for property tax relief. It sets specific minimum relief amounts for tax years 2024 through 2030 (e.g., $750 million for 2024, $902 million for 2030) and establishes a formula for future years: prior year's minimum plus the percentage increase in statewide property values (as determined by the Department of Revenue) plus $75 million. The bill also adds a provision requiring funds transferred to the relief fund under Section 77-4602 to be included in the annual relief calculation. This amendment replaces the original funding structure in Section 77-7305 of the Revised Statutes.