Section 85-1C-006 - Eligible Contributions006.01 Eligible ContributionsEligible contributions generally include contributions of money, property, or services to, or for the use of, a Community Betterment Organization for a project or program that has been certified for Tax Credit Status by the Department.
006.02 The Department will not authorize more than $25,000 of tax credits for any single project during any single fiscal year.006.03 The Department will not authorize more than $100,000 of tax credits for the targeted area as identified in section 001.11 during the fiscal year.006.04 The Department reserves the option to waive any policies and procedures (except those mandated by statute) to redirect additional tax credits to the target area as identified in section 001.11 as need may dictate.006.05 The minimum, eligible contribution amount for CDAA tax credit is $25.006.06 Tax credits will not be given to a business firm whose contributions are granted for activities that are a part of its normal course of business.006.07 Any tax credit balance may be carried over and applied against the business firm's tax liability for the next five years immediately succeeding the tax year in which the credit was first allowed.006.08 No credit will be given for any funds expended or contributions received prior to the date of approval by the Department.85 Neb. Admin. Code, ch. 1C, § 006