Certain contractor labor; refund; procedure; Department of Revenue Contractor Enforcement Fund; created; investment

(1) Construction services performed on an owner-occupied residential unit shall be subject to tax prior to October 1, 2007, but the owner shall be entitled to a refund of any sales and use taxes paid by the owner on construction services pursuant to this subsection. A taxpayer shall be entitled to a refund of any sales tax paid on the gross receipts for the labor of a contractor for any major addition, remodeling, restoration, repair, or renovation described in this section as it existed prior to October 1, 2007. The refund granted in this subsection shall be conditioned upon filing a claim for the refund on a form developed by the Tax Commissioner. The requirements imposed by the Tax Commissioner shall be related to ensuring that the project qualifies for the refund. Any information received pursuant to the requirements of this subsection may be disclosed to any tax official in this state. Any taxpayer who provides false information on the forms required by the Tax Commissioner for purposes of this subsection shall be subject to the penalties provided in subsection (8) of section 77-2705 .

(2) The Department of Revenue Contractor Enforcement Fund is created. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.