{"data":{"id":"us-ne/neb.-rev.-stat.-77-2502","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 77-2502","heading":"Terms, defined.","body":"For purposes of the Affordable Housing Tax Credit Act:\n(1) Allocation year means the year for which the authority awards Nebraska affordable housing tax credits pursuant to the act;\n(2) Authority means the Nebraska Investment Finance Authority;\n(3) Eligibility statement means a statement authorized and issued by the authority certifying that a given project is a qualified project that qualifies for Nebraska affordable housing tax credits;\n(4) Federal low-income housing tax credit means the federal tax credit provided in section 42 of the Internal Revenue Code of 1986, as amended;\n(5) Nebraska affordable housing tax credit means the nonrefundable tax credit authorized in section 77-2503;\n(6) Pass-through entity means (a) a partnership, (b) a limited liability company, or (c) a corporation having an election in effect under subchapter S of the Internal Revenue Code of 1986, as amended;\n(7) Qualified project means a qualified low-income building or buildings, as that term is defined in section 42 of the Internal Revenue Code of 1986, as amended; and\n(8) Taxpayer means a person, firm, corporation, or other business entity subject to the income tax imposed by section 77-2715 or 77-2734.02, an insurance company subject to premium and related retaliatory tax liability imposed by section 44-150, 77-908, or 81-523, a financial institution subject to the franchise tax imposed by sections 77-3801 to 77-3807, or a nonprofit corporation of the type listed in 26 U.S.C. 501(c)(3) or 26 U.S.C. 501(c)(4).","path":["Chapter 77 - REVENUE AND TAXATION"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=77-2502","current_through":"Laws 2026","vintage":"","retrieved_at":"2026-09-17T21:01:11Z","sha256":"10db80fa662f4cec62b03d27441ee9672c50cb6935c2ef008220ebfb70697b2e","source_id":"us-ne","stale":true,"prev":"us-ne/neb.-rev.-stat.-77-2501","next":"us-ne/neb.-rev.-stat.-77-2503"},"notice":"GroundRules: Original legal text. Not legal advice."}