On July 25, 2024, at the request of Governor Jim Pillen, state senator Lou Ann Linehan introduced Legislative Bill 1, which sought to adopt the Property Tax Growth Limitation Act, the School District Property Tax Relief Act, and the Advertising Services Tax Act, along with other changes to revenue and taxation provisions. The bill posed a threat to the long-standing tax exemption for currency and bullion in Nebraska.
NCBA was first alerted to this potential threat by NCBA member Pat Moran of Lincoln Coin & Bullion on July 29. Moran’s vigilance enabled the NCBA to swiftly mobilize. NCBA industry issues advisor, Pat Heller, and executive director, David Crenshaw, began discussions on the next steps to oppose any repeal of the exemption. Crenshaw and Deb Olson, retired former owner of Lincoln Coin & Bullion who played a pivotal role in securing the original exemption, submitted written testimony to the Senate Revenue Committee public hearing opposing the proposed repeal. Additionally, Moran and Dave Peter of Coinhuskers testified in person, further emphasizing the importance of maintaining this exemption.
After weeks of intense lobbying, the special session adjourned sine die on August 20, 2024. We are thrilled to report that, despite the flurry of other bills passed and signed into law, the exemption for currency and bullion was left untouched. Thanks to the collective effort and dedication of everyone involved in supporting these crucial financial protections, Nebraska remains a safe haven for currency and bullion.
This Nebraska legislature’s special session is a prime example of why continuous monitoring of state legislatures is critical—for NCBA dealer-members and also for members of our Concerned Collectors Coalition. Whenever an existing exemption is threatened, dealer and coalition members can be quickly rallied to support our efforts, much like the Revolutionary War minutemen were ready at a moment’s notice.
Join the Concerned Collectors Coalition
The Concerned Collectors Coalition is a special membership category of NCBA designed for individuals whose primary income is not based on the sale of numismatic material. Membership in the coalition is free and includes a membership certificate and access to our quarterly digital newsletter, Member News. While coalition members do not have voting rights, their role is vital in our advocacy efforts.
As part of the registration process, coalition members are required to identify their federal and state legislators. This allows NCBA and our lobbyists to focus efforts on key legislators—whose constituents are specifically effected—to help influence the outcomes of our initiatives.
If you appreciate having access to a fair market for coins and bullion, consider joining NCBA as a Concerned Collectors Coalition member. Your membership is free, but contributions of $25, $50, $100, or more help support our initiatives and shape the future of our numismatic community.
For more information or to join the Concerned Collectors Coalition, visit ncbassoc.org/membership.
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