77-1033 Transfer of incentives; when; liability for recapture. - Nebraska Statutes

77-1033. Transfer of incentives; when; liabilityfor recapture.(1)The incentives allowed under the Nebraska Advantage Transformational Tourismand Redevelopment Act may be transferred when a project covered by an agreementis transferred in its entirety by sale or lease to another taxpayer or inan acquisition of assets qualifying under section 381 of the Internal RevenueCode of 1986, as amended.(2) The acquiringtaxpayer, as of the date of notification of the municipality of the completedtransfer, shall be entitled to any future incentives allowable under the act.(3) The acquiringtaxpayer shall be liable for any recapture that becomes due after the dateof the transfer for the repayment of any incentives received either beforeor after the transfer. SourceLaws 2010, LB1018, § 33.Effective Date: July 15, 2010