Nebraska § 77-1120 - Qualified community development entity; report to Tax Commissioner; Tax Commissioner; report to Legislature.
Full text of Nebraska Revised Statutes of Nebraska § 77-1120 — Qualified community development entity; report to Tax Commissioner; Tax Commissioner; report to Legislature., with citation guidance and answers to common questions.
§ 77-1120. Qualified community development entity; report to Tax Commissioner; Tax Commissioner; report to Legislature.
(1) A qualified community development entity that has received an allocation of qualified equity investment authority pursuant to the 2021 allocation shall submit an annual report to the Tax Commissioner on or before the last day of February following the second through seventh credit allowance dates. The annual report shall provide documentation as to the qualified community development entity's qualified low-income community investments and include all of the following:
(a) A bank statement evidencing each qualified low-income community investment;
(b) The name, location, and industry of each qualified active low-income community business receiving a qualified low-income community investment; and
(c) The number of jobs created or retained as a result of each qualified low-income community investment.
(2) The Tax Commissioner shall electronically submit a report to the Legislature on or before April 1, 2022, and on or before each April 1 thereafter through April 1, 2028, with respect to the 2021 allocation. The report shall include all of the following:
(a) The name and number of all of the qualified community development entities approved to participate in the 2021 allocation;
(b) The amount of qualified low-income community investments made by the qualified community development entities;
(c) The location of each qualified active low-income community business; and
(d) The number of jobs created or retained as a result of each qualified low-income community investment.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 77-1120
What does Revised Statutes of Nebraska § 77-1120 cover?
Section 77-1120 ("Qualified community development entity; report to Tax Commissioner; Tax Commissioner; report to Legislature.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 77-1120?
A common citation format is "Revised Statutes of Nebraska § 77-1120" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 77-1120 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.