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LB194 LB194 2025 LEGISLATURE OF NEBRASKA ONE HUNDRED NINTH LEGISLATURE FIRST SESSION LEGISLATIVE BILL 194 FINAL READING   Introduced by Sorrentino, 39.
LB194 LB194 2025 LEGISLATIVE BILL 194 Approved by the Governor February 25, 2025   Introduced by Sorrentino, 39.
Read first time January 13, 2025 Committee:
  A BILL FOR AN ACT relating to the documentary stamp tax;
Revenue A BILL FOR AN ACT relating to the documentary stamp tax;
Be it enacted by the people of the State of Nebraska, -1- LB194 LB194 2025 Section 1.
Be it enacted by the people of the State of Nebraska, Section 1.
-2- LB194 LB194 2025 (b) For purposes of clarification, the exemptions set forth in subdivision (5)(a) of this section shall apply to deeds transferring property to a corporation that is wholly owned by a single shareholder, or to a limited liability company that is wholly owned by a single member, in any of the following situations:
(b) For purposes of clarification, the exemptions set forth in subdivision (5)(a) of this section shall apply to deeds transferring property to a corporation that is wholly owned by a single shareholder, or to a limited liability company that is wholly owned by a single member, in any of the following situations:
(15) Deeds of distribution executed by a personal representative conveying to devisees or heirs property passing by testate or intestate -3- LB194 LB194 2025 succession;
(15) Deeds of distribution executed by a personal representative conveying to devisees or heirs property passing by testate or intestate succession;
No such exemption shall be granted unless the register of deeds is presented with a signed statement certifying that the transfer of the property is made under such circumstances as to come within one of the exemptions specified in this section and that evidence supporting the exemption is maintained by the person signing the statement and is available for inspection by the Department of Revenue;
No such exemption shall be granted unless the register of deeds is presented with a signed statement certifying that the transfer of the property is made under such circumstances -1- LB194 LB194 2025 as to come within one of the exemptions specified in this section and that evidence supporting the exemption is maintained by the person signing the statement and is available for inspection by the Department of Revenue;
Original section 76-902, Reissue Revised Statutes of -4- LB194 LB194 2025 Nebraska, is repealed.
Original section 76-902, Reissue Revised Statutes of Nebraska, is repealed.
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