Creating High Impact Economic Futures Act (CHIEF)

Tax credits under the Creating High Impact Economic Futures Act (“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. Projects or programs consisting of eligible activities provided in a Community Development Area may be approved for tax credit status. An eligible Community Betterment Organization may apply through the Department of Economic Development’s Grant Management System for approval of a project or program.

The annual limit on the total amount of tax credits allowed for calendar years 2025 and 2026 shall be nine hundred thousand dollars ($900,000) per year with a total of three hundred thousand dollars ($300,000) per year for each congressional district. Beginning in calendar year 2027 and each calendar year thereafter, the annual limit on the total amount of tax credits allowed increases to three million dollars ($3,000,000) per year with a total of one million dollars ($1,000,000) per year for each congressional district. Once credits have reached the annual limit for any calendar year, no additional credits shall be allowed for such calendar year. The maximum amount of credits per program or project shall not exceed one hundred fifty thousand dollars ($150,000) per year for the first congressional district of Nebraska and one hundred fifty thousand dollars ($150,000) per year for the third congressional district of Nebraska. There is no annual maximum amount of credits per program or project in the second congressional district of Nebraska.