Provide an income tax credit for renters and change provisions relating to a property tax credit

LB 107 creates a new refundable income tax credit for Nebraska renters with lower incomes. It directly affects renters earning $29,000 or less annually, providing a credit equal to 100% of a federal tax credit for those earning under $22,000, with the percentage decreasing by 10% for each $1,000 over $22,000. The credit is refundable, meaning eligible renters would receive the full credit amount even if it exceeds their state tax liability. The bill also modifies existing property tax credit provisions, though specific changes to those are not detailed in the provided text.