Term-limited Nebraska Lawmakers Mount What Could Be Last Push for More Property Tax Relief
‘We’re in a special session, we should do something special.’ — State Sen. Justin Wayne LINCOLN — Like a phoenix from the ashes, term-limited Nebraska lawmakers made what could be their last ask Thursday to revive more substantial property tax relief plans before their time in the Legislature ends. State Sen. Justin Wayne of Omaha, seated, listens to State Sen. Steve Halloran of Hastings. July 26, 2024. (Zach Wendling/Nebraska Examiner) State Sen. Justin Wayne of Omaha outlined three options for his colleagues to consider Thursday afternoon, ahead of an expected second-round debate on Legislative Bill 34. LB 34 is the evolving effort put forward… Read More »
DOL Issues New Rules Defining Overtime Exemptions
What’s new: On April 23, 2024, the U.S. Department of Labor (DOL) published a final rule that raises the minimum annual salary threshold to classify an employee as exempt from overtime rules under the Fair Labor Standards Act (FLSA). Current Starting July 1, 2024 Starting July 1, 2025 Minimum Annual Exempt Salary $35,568 $43,888 $58,656 Highly Compensated Employee Salary $107,432 $132,964 $151,154 Why it matters: The new rule’s dramatic increase in salary thresholds will require companies to reclassify some exempt employees and non-exempt and require justification for classifying some employees as non-exempt. Tell me more: Salary threshold: Under FLSA, a… Read More »
Nebraska Field Notes
Advocacy Thank you for all of your efforts this year with the 2024 session! LB 1308 would have reinstated the tax on ag repair and replacement parts in Nebraska. However, due to the work of members and staff and the support of key Senators, that bill was not included in the final version that was debated on the floor of the Legislature. The omnibus tax bill that was debated was ultimately pulled from the agenda due to lack of support. While the Legislature adjourned without passage of Governor Jim Pillen’s Property Tax Shift Plan, there is more work to do…. Read More »
Iowa Field Notes: My #1 Concern as I Visit Dealers — Inventory
In my travels over the past few months there is a common theme among dealers—they have too much inventory. Over the past three plus years, dealers have gone from inventory shortages to surpluses of inventory. Dealers have had orders placed with manufacturers for two years that have not been fulfilled until now. That means that the orders placed for equipment two years ago, a year ago, and the current years worth of orders have all been arriving on dealers lots all at once. It seems that the manufacturers were finally able to get the components they have been waiting on… Read More »