2024 Creating High Impact Economic Futures Act (CHIEF)

The CHIEF Act authorizes the Nebraska Department of Economic Development (DED) to approve a one hundred percent (100%) nonrefundable tax credit for contributions made by individuals and a fifty percent (50%) nonrefundable tax credit made by business firms to programs or projects certified for tax credit status. Unused credits may be carried forward for five (5) years. Tax credits under the CHIEF Act are intended to encourage individuals and business firms to make charitable contributions that provide community assistance and services in alleviating areas of chronic economic distress in Nebraska. A community betterment organization (CBO) may apply to the Department to certify a program or project for CHIEF ACT tax credits. A project or program must provide eligible services in a community development area to be eligible to be certified for tax credit status. Upon approval of a project or program, the CBO shall notify contributors they may be eligible for tax credits for contributions made to the project or program following the execution date of the CHIEF agreement between the CBO and DED. The contributors may submit a tax credit request form CHIEF-1 to DED. Upon approval of the request for tax credits, DED will issue the contributor a tax credit form to be attached to and filed with the contributor's tax return.

Tax Credit Program WHAT QUALIFIES? 1) Employment training 2) Medical services 3) Operations of any inland port authority 4) Recreational services and educational activities 5) Crime prevention 6) Operation of an agribusiness or agricultural business activity 7) Construction or operation of intermodal facilities or shovel-ready sites owned by the qualifying organization 8) Creation or operation of an accelerator program for technology companies. 9) Operation of an iHub.

$1,000.00 - $300,000.00 for tax credit status approval for projects and programs in the 2nd Congressional District of Nebraska. The maximum amount of tax credits eligible for award will increase to $1,000,000 in 2027. $1,000.00-$150,000.00 for tax credit status approval for projects and programs in the 1st and 3rd Congressional Districts of Nebraska. The total annual limit on tax credits allowed for calendar years 2025 and 2026 shall be $900,000 per year with $300,000 per year for each congressional district. For calendar year 2027 and each calendar year after the total annual limit on tax credits allowed shall be $3,000,000 with a total of $1,000,000 per year for each congressional district.

Questions may be directed to Darin Lubke, CHIEF Act Coordinator Nebraska Department of Economic Development 245 Fallbrook Blvd, Suite 002 Lincoln, NE 68521 Email: Darin.Lubke@nebraska.gov Tel: 402-471-3369

Creating High Impact Economic Futures Act (CHIEF Act) Application Guidelines Statewide Relay System Individuals, who are hearing and/or speech impaired and have a TTY, may contact the Department through the Statewide Relay System by calling (800) 833-7352 (TTY) or (800) 833-0920 (voice). The relay operator should be asked to call DED at (800) 426-6505 or (402) 471-3116. Resources General and Program specific AmpliFund user guides and videos can be found at https://opportunity.nebraska.gov/amplifund/.