Provide a sales and use tax exemption for the purchase of an aircraft to be leased between related companies

Nebraska Legislative Bill LB 757 creates a sales and use tax exemption for businesses purchasing aircraft to lease between related companies (such as parent-subsidiary or sister companies). It directly affects corporations that lease aircraft internally, exempting the initial purchase from tax if two conditions are met: lease income must equal at least 7.5% of the aircraft's net acquisition price, and sales tax must be collected on lease payments. The exemption applies to the purchase transaction only, not the lease payments themselves. The bill becomes effective October 1, 2026, and repeals the previous tax provision it amends.