(1) Qualified equity investment means any equity investment in, or long-term debt security issued by, a qualified community development entity that:

Terms Used In Nebraska Statutes 77-1110

  • Long-term debt security: means any debt instrument issued by a qualified community development entity, at par value or a premium, with an original maturity date of at least seven years after the date of its issuance, with no acceleration of repayment, amortization, or prepayment features prior to its original maturity date. See Nebraska Statutes 77-1106
  • Purchase price: means the amount paid to the issuer of a qualified equity investment for the qualified equity investment. See Nebraska Statutes 77-1107
  • Qualified equity investment: means any equity investment in, or long-term debt security issued by, a qualified community development entity that:

    (a) Is acquired after January 1, 2012, at its original issuance solely in exchange for cash. See Nebraska Statutes 77-1110

  • State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
  • term: includes any qualified equity investment that does not meet the requirements of subdivision (1)(a) of this section if such investment was a qualified equity investment in the hands of a prior holder. See Nebraska Statutes 77-1110

(a) Is acquired after January 1, 2012, at its original issuance solely in exchange for cash;

(b) Has at least eighty-five percent, or one hundred percent with respect to the 2021 allocation, of its cash purchase price used by the issuer to make qualified low-income community investments in qualified active low-income community businesses located in this state by the first anniversary of the initial credit allowance date;

(c) Is designated by the issuer as a qualified equity investment and, with respect to awards of the 2021 allocation pursuant to subsection (6) of section 77-1116, is designated by the issuer as a qualified equity investment under section 45D of the Internal Revenue Code of 1986, as amended; and

(d) Is certified by the Tax Commissioner as not exceeding the limitation contained in section 77-1115.

(2) The term includes any qualified equity investment that does not meet the requirements of subdivision (1)(a) of this section if such investment was a qualified equity investment in the hands of a prior holder.