bill would have “front-loaded” property tax credits, rather than having to claim them on income tax returns. The bill also included a cap on revenue growth for cities, villages, and counties. Initially, the proposed plan included raising the overall sales tax rate along with the taxation of accounting services, among other measures. However, the proposal to tax accounting services was not included in the bill that advanced out of the Revenue Committee on Feb. 1, highlighting the importance of the Society’s active engagement in the legislative process and the ongoing, day-to-day work of our lobbyists at Radcliffe, Gilbertson & Brady. In late February, Kymberly Messersmith from KPMG’s Washington, D.C., office joined the Society and Nebraska Chamber at the Capitol to encourage state senators to oppose the taxation of accounting services—yet another effort to ensure the voice of the profession was heard. The Governor has said that he fully intends to call a special session this summer, telling state senators to “enjoy halftime” when he addressed them as they were wrapping up in April. Rest assured, your Society remains vigilant and proactive, ready to participate in any special sessions that may arise this year. Although it was intense, senators still managed to get a lot done during the two‑year sessions of the 108th Legislature. Of the 1,417 bills introduced, the Governor signed 186 bills into law, with six more awaiting his signature or veto at the time of this writing. Those 186 bills encapsulate key provisions from more than 180 other pieces of legislation. In addition to the aforementioned legislative endeavors is a potential ballot initiative, known as the EPIC Option, which would eliminate all property, income, inheritance, and corporate taxes and replace them with a statewide consumption tax, which means a tax on all new products, except for food, and a tax on all services. Soaring property tax burdens are a legitimate concern for many Nebraskans; however, research completed by the independent Tax Foundation has found that the EPIC Option would result in an unprecedented fiscal crisis in our state. As such, the Nebraska Society of CPAs has joined the No New Taxes Nebraska coalition, led by lobbyist Korby Gilbertson, to assist in opposing these efforts. The coalition held a press conference to announce its efforts on March 14 in the Rotunda at the Capitol. Your Society is committed to protecting the profession’s interests and ensuring a favorable business environment in Nebraska. To stay up to date on this effort and other important issues, be sure to visit our new Hot Topics page at nescpa.org/news/updates/hot-topics. Defending the Profession In other news, the Nebraska Examiner published an article in February that contained derogatory comments toward the profession made by the Nebraska state auditor. Your Society swiftly responded with a commentary addressing the auditor’s comments, entitled “Independence is a cornerstone of the auditing profession,” which was published in the Nebraska Examiner on March 1. This response underscores the critical role the Society plays in upholding the integrity and public image of the profession. (Read the Society’s commentary on page 13.) Playing Offense by Engaging Candidates This year marks the end of the legislative journey for 15 of Nebraska’s 49 state senators, including Senators Joni Albrecht (Thurston), Carol Blood (Bellevue), Bruce Bostelman (Brainard), Tom Brewer The NASBA Executive Directors Conference in Nashville brought together staff from the Nebraska Board of Public Accountancy and Nebraska Society of CPAs along with their counterparts from across the country. Attendees at the Nebraska Society of CPAs’ Business, Industry & Innovation Conference enjoyed a tour of Memorial Stadium following the event. CONTINUED ON PAGE 10 9 www.nescpa.org
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