UNDATED - As state lawmakers continue to fine-tune the biennial budget, a high-level state official is speaking out against a possible money-saving proposal.

A senior policy adviser with The Platte Institute this week released a report saying Nebraska could see huge immediate savings by freezing Nebraska's property tax rebates for two years.

Michael Lucci, a senior policy adviser for the tax-focused think tank, says keeping the tax credits at their current level would save the state around $162 million dollars.

"We think this is one place of very large growth in state expenditures," Lucci said during a virtual news conference with reporters this week. "Given the large growth in these credit programs, we think it's prudent to hold the line and freeze for two years. During those two years, obviously the state would enjoy the budget savings, and the state could review all the various programs and tax cuts."

But one top state official disagrees. 

State Treasurer Tom Briese was a state senator when he helped pass the property tax credit in 2020. It allows property owners to receive a portion of the property taxes paid toward public schools districts and community colleges back when they file their income taxes.

The rebate percentage is scheduled to go up next year, and Briese told News Channel Nebraska in an interview this week that lawmakers should keep the promises the Unicameral made in 2020.

"Clearly the individual from the Platte Institute that suggested [the freeze] hasn't talked to every day hard-working Nebraskans who are shouldering some of the highest property taxes in the country," Briese said. "They've had to stand by for decades watching leaders in Lincoln balance the budget on the backs of farmers, ranchers, and homeowners."

The Nebraska Forecasting Board lowered its tax revenue projections in their latest report, leaving Nebraska with an estimated $262 million shortfall.

A somewhat similar plan to the Platte Institute's was a non-starter in the Unicameral this session. Sen. Tom Brandt of Plymouth proposed delaying a decrease in Nebraska's top income tax rate as a potential way to save money.

Brandt told the Nebraska Examiner on Tuesday he did not support the Platte Institute's property tax credit freeze.