We are excited to share the news that LB 889 was overwhelmingly supported and approved by the Nebraska Legislature on Final Reading by a vote of 45-2, and then signed by Governor Ricketts to officially make the Nebraska School Readiness Tax Credit Act law. Thank you to each and every one of you who supported the bill throughout the legislative process and reached out to your State Senator.
This new law creates two new tax credits. One credit is for Nebraska’s early childhood professional workforce and one is for the quality early childhood programs that participate in Nebraska’s Step Up to Quality Program. The tax credits are purposefully targeted to support investment in quality early care and education. The passage of LB 889 is a critical step forward to increasing access to quality early care and education across Nebraska.
LB 889 was modeled after an extremely successful package of tax credits in Louisiana that play the vital role of supporting the child care industry, which is comprised mainly of privately run, community-based small businesses that educate young children, create jobs and pump money into local economies. The school readiness tax credits in Louisiana have proven to not only strengthen economic development, but also significantly increase the quality of early childhood programs and the professional development of the early childhood workforce.
Targeted investments in quality early care and education programs, like those in LB 889, have both immediate and long-term benefits to the individual child and society at large. Children from families of low-income who have access to high quality early childhood programs are less likely to be retained in grade, less likely to be referred to special education, less likely to go to jail, more likely to graduate high school, and more likely to attend college – all leading to higher earnings.
Again, thank you for your tremendous support of LB 889 and our work to ensure that every child has every opportunity to realize their full potential.
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