reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,155.01 - Bioscience Innovation Program; provide financial assistance.

81-12,155.01.
Bioscience Innovation Program; provide financial assistance.
(1) The department shall establish a Bioscience Innovation Program under the Business Innovation Act. The purpose of this program is to provide financial assistance to:
(a) Support small enterprise formation in the bioscience sector of Nebraska's rural and urban economies;
(b) Support the development of bioscience communities and economic opportunity through innovation in biofuels, biosensors, and biotechnology as it relates to animals, equipment, humans, industry, research, medical and health information, medical and health products, medical and health services, medical diagnostics, medical therapeutics, and pharmaceuticals;
(c) Enhance the creation of high-wage bioscience jobs to employ graduates of postsecondary educational institutions in Nebraska and to attract graduate students from other states;
(d) Encourage the development of new technologies in the bioscience sector and the creation of new startup businesses focused on bioscience;
(e) Leverage the state’s agricultural sector to support the development of emerging bioscience technologies impacting livestock operations and crop production; and
(f) Leverage the bioscience research and development conducted at postsecondary educational institutions in Nebraska to create private-sector bioscience enterprises.
(2) Private bioscience businesses and enterprises operating in Nebraska shall be eligible for financial assistance as described in sections 81-12,157, 81-12,158, 81-12,160, and 81-12,161. A bioscience business or enterprise receiving financial assistance pursuant to any of such sections shall provide a match of one hundred percent for such assistance.
(3) The program shall terminate when the fund created under section 81-12,163.01 terminates.
Source
Laws 2017, LB641, § 2.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,156 - Funding; preference.

81-12,156.
Funding; preference.
When selecting projects for funding under the Business Innovation Act, the department shall give a preference to projects located in whole or in part within an economic redevelopment area, an enterprise zone designated pursuant to the Enterprise Zone Act, or an opportunity zone designated pursuant to the federal Tax Cuts and Jobs Act, Public Law 115-97.
Source
Laws 2011, LB387, § 5;
Laws 2014, LB800, § 8;
Laws 2017, LB217, § 35;
Laws 2019, LB87, § 4;
Laws 2022, LB1012, § 23.
Cross References
Enterprise Zone Act, see section 13-2101.01.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,157 - Planning grants; phase one program; limitations.

81-12,157.
Planning grants; phase one program; limitations.
(1) The department shall establish a phase one program to provide grants to small businesses that qualify under the federal grant program for the purposes of planning for an application under the federal grant program. If a small business receives funding under the federal grant program, the department or a nonprofit entity designated by the department may make grants to match up to sixty-five percent of the amount of the federal grant.
(2) Planning grants under subsection (1) of this section shall not exceed five thousand dollars per project. Federal award matching grants under this section shall not exceed one hundred thousand dollars. No business shall receive funding for more than one project every two years.
(3) The department may award up to six million dollars per year for grants under this section.
Source
Laws 2011, LB387, § 6;
Laws 2015, LB449, § 2;
Laws 2022, LB598, § 7.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,158 - Financial assistance program to create prototype of certain products; established; funds; match required; limitation.

81-12,158.
Financial assistance program to create prototype of certain products; established; funds; match required; limitation.
(1) The department shall establish a financial assistance program to provide financial assistance to businesses that employ no more than five hundred employees or to individuals for the purposes of creating a prototype of a product stemming from research and development at a business operating in Nebraska or a public or private college or university in Nebraska.
(2)(a) Until three months after April 20, 2022, funds shall be matched by nonstate funds equivalent in money equal to fifty percent of the funds requested; and
(b) Beginning three months after April 20, 2022, funds shall be matched by nonstate funds equivalent in money equal to:
(i) Twenty-five percent of the funds requested if the applicant's principal residence or principal place of business is located in an economic redevelopment area within a city of the metropolitan class; or
(ii) Fifty percent of the funds requested for any other applicant.
(3) Matching funds may be from any nonstate source, including private foundations, federal or local government sources, quasi-governmental entities, or commercial lending institutions, or any other funds whose source does not include funds appropriated by the Legislature.
(4) The amount the department may provide shall not exceed one hundred fifty thousand dollars per project.
(5) A business or individual applying for financial assistance under this section shall include a business plan that includes a proof-of-concept demonstration.
(6) Financial assistance under this section shall be expended within twenty-four months after the date of the awarding decision.
(7) The department may award up to six million dollars per year for financial assistance under this section.
Source
Laws 2011, LB387, § 7;
Laws 2015, LB449, § 3;
Laws 2022, LB598, § 8.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,159 - Innovation in value-added agriculture program; established; purpose; eligibility; match required; limitation.

81-12,159.
Innovation in value-added agriculture program; established; purpose; eligibility; match required; limitation.
(1) The department shall establish an innovation in value-added agriculture program. The purpose of this program is to provide financial assistance to:
(a) Support small enterprise formation in the agricultural sector of Nebraska's rural economy, including innovative efforts for value-added enterprises;
(b) Support the development of agricultural communities and economic opportunity through innovation in farming and ranching operations, rural communities, and businesses for the development of value-added agricultural products;
(c) Enhance the income and opportunity for farming and ranching operations in Nebraska in order to stem the decline in their numbers;
(d) Increase the farming and ranching operations' share of the food-system profit;
(e) Enhance opportunities for farming and ranching operations to participate in electronic commerce and new and emerging markets that strengthen rural economic opportunities; and
(f) Encourage the production and marketing of specialty crops in Nebraska and support the creation and development of agricultural enterprises and businesses that produce and market specialty crops in Nebraska.
(2) Agricultural cooperatives, farming or ranching operations, and private businesses and enterprises operating in Nebraska shall be eligible for financial assistance under this section.
(3) An entity receiving financial assistance shall provide a match of twenty-five percent for such assistance.
(4) The department may award up to six million dollars per year for financial assistance under this section.
Source
Laws 2011, LB387, § 8;
Laws 2015, LB449, § 4;
Laws 2022, LB598, § 9.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,160 - Financial assistance program to commercialize product or process; established; purpose; funds; match required; limitation; contract with venture development organization.

81-12,160.
Financial assistance program to commercialize product or process; established; purpose; funds; match required; limitation; contract with venture development organization.
(1) The department shall establish a financial assistance program to provide financial assistance to businesses operating in Nebraska that employ no more than five hundred employees or to individuals that have a prototype of a product or process for the purposes of commercializing such product or process. The applicant shall submit a feasibility study stating the potential sales and profit projections for the product or process.
(2) The department shall create a program with the following provisions to support commercialization of a product or process:
(a) Commercialization infrastructure documentation, including market assessments and start-up strategic planning;
(b) Promotion, marketing, advertising, and consulting;
(c) Management and business planning support;
(d) Linking companies and entrepreneurs to mentors;
(e) Preparing companies and entrepreneurs to acquire venture capital; and
(f) Linking companies to sources of capital.
(3) Funds shall be matched by nonstate funds equal to fifty percent of the funds requested. Matching funds may be from any nonstate source, including private foundations, federal or local government sources, quasi-governmental entities, or commercial lending institutions, or any other funds whose source does not include funds appropriated by the Legislature.
(4) The department shall not provide more than five hundred thousand dollars to any one project. Each year the department may award up to six million dollars under this section.
(5) Financial assistance provided under this section shall be expended within twenty-four months after the date of the awarding decision.
(6) To carry out this section, the department shall contract with one statewide venture development organization that is incorporated in the State of Nebraska and exempt for federal tax purposes under section 501(c)(3) of the Internal Revenue Code.
Source
Laws 2011, LB387, § 9;
Laws 2015, LB449, § 5;
Laws 2016, LB1093, § 3;
Laws 2017, LB331, § 50;
Laws 2022, LB598, § 10.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,161 - Financial assistance program relating to college or university research and development; established; funds; match required; limitation.

81-12,161.
Financial assistance program relating to college or university research and development; established; funds; match required; limitation.
(1) The department shall establish a financial assistance program to provide financial assistance to businesses operating in Nebraska that use the faculty or facilities of a public or private college or university in Nebraska for applied research and development of new products or use intellectual property generated at a public or private college or university in Nebraska.
(2) A business may apply for up to two awards in any four-year period per project. The department may provide up to one hundred thousand dollars for the first phase of a project. If the first phase is successful and agreed-upon contractual requirements are met during the first phase, the department may provide up to four hundred thousand dollars for the second phase of the project.
(3) Funds shall be matched by nonstate funds equivalent in money equal to one hundred percent of the funds requested for both phases of the project. Matching funds may be from any nonstate source, including private foundations, federal or local government sources, quasi-governmental entities, or commercial lending institutions, or any other funds whose source does not include funds appropriated by the Legislature.
(4) The department may award up to six million dollars per year for financial assistance under this section.
Source
Laws 2011, LB387, § 10;
Laws 2015, LB449, § 6;
Laws 2022, LB598, § 11.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,163 - Appropriations; legislative intent.

81-12,163.
Appropriations; legislative intent.
(1) It is the intent of the Legislature that (a) the four million dollars saved due to the elimination of funding for the Angel Investment Tax Credit Act be used to increase the appropriation to the department for the Business Innovation Act by four million dollars for fiscal year 2021-22 and each fiscal year thereafter and (b) the one hundred thousand dollars saved due to the reduction in tax credits authorized under the Angel Investment Tax Credit Act for calendar year 2019 be used to increase the appropriation to the Department of Revenue by one hundred thousand dollars for fiscal year 2019-20 to offset the costs incurred by the Department of Revenue to implement Laws 2019, LB334.
(2) Up to five percent of the funds appropriated for the Business Innovation Act may be used by the department, or by a nonprofit entity with which the department contracts, for administrative expenses.
Source
Laws 2011, LB387, § 12;
Laws 2015, LB449, § 8;
Laws 2019, LB334, § 9.
Cross References
Angel Investment Tax Credit Act, see section 77-6301.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,163.01 - Bioscience Innovation Cash Fund; created; use; investment.

81-12,163.01.
Bioscience Innovation Cash Fund; created; use; investment.
(1) The Bioscience Innovation Cash Fund is created. The fund shall be administered by the department to provide financial assistance to bioscience-related businesses applying for financial assistance under the Business Innovation Act. 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.
(2) The State Treasurer shall credit to the fund such money as is (a) transferred to the fund by the Legislature, (b) paid to the state as fees, deposits, payments, and repayments relating to the fund, both principal and interest, (c) donated as gifts, bequests, or other contributions to such fund from public or private entities, (d) made available by any department or agency of the United States if so directed by such department or agency, and (e) beginning October 1, 2017, received by the department as repayments of loans from the Nebraska Progress Loan Fund as authorized by the federal State Small Business Credit Initiative Act of 2010, 12 U.S.C. 5701 et seq., as such act existed on January 1, 2017.
(3) Money in the fund shall be expended by the department for the purpose of carrying out the Bioscience Innovation Program.
(4) Up to five percent of the fund may be used by the department for administrative expenses.
(5) The fund shall terminate on exhaustion of its funds following receipt of the final loan repayment provided for in subdivision (2)(b) of this section.
Source
Laws 2017, LB641, § 1.
Cross References
Nebraska Capital Expansion Act, see section 72-1269.
Nebraska State Funds Investment Act, see section 72-1260.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,166 - Report; contents; department; duties; analysis of programs; certain records confidential.

81-12,166.
Report; contents; department; duties; analysis of programs; certain records confidential.
(1) The department shall submit an annual report to the Governor and the Legislature on or before July 1 of each year which includes, but is not limited to, a description of the demand for financial assistance and programs under the Business Innovation Act from all geographic regions in Nebraska, a listing of the recipients and amounts of financial assistance awarded pursuant to the act in the previous fiscal year, the impact of the financial assistance, and an evaluation of the act's performance based on the documented goals of the recipients. The report submitted to the Legislature shall be submitted electronically. The department may require recipients to provide periodic performance reports to enable the department to fulfill the requirements of this subsection. The report shall contain no information that is protected by state or federal confidentiality laws.
(2) Beginning in 2020 and in every even-numbered year thereafter, the department shall assess and evaluate the economic impact of the programs funded under the Business Innovation Act and shall include the findings from such assessment and evaluation in the next annual report it submits under subsection (1) of this section. To carry out this subsection, the department shall contract with an organization or entity pursuant to state agency procurement requirements.
(3) Beginning with the FY2021-23 biennial budget review process, the Appropriations Committee of the Legislature shall conduct a biennial analysis of the financial status and impact of the programs funded under the Business Innovation Act.
(4) Applications for funding and related documentation which may be received, developed, created, or otherwise maintained by the Department of Economic Development in administering the Business Innovation Act may be deemed confidential by the department and not subject to public disclosure.
Source
Laws 2011, LB387, § 15;
Laws 2012, LB782, § 196;
Laws 2015, LB449, § 9;
Laws 2019, LB334, § 10.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,169 - Definitions, where found.

81-12,169.
Definitions, where found.
For purposes of the Nebraska Transformational Projects Act, the definitions found in sections 81-12,170 to 81-12,181 shall be used.
Source
Laws 2020, LB1107, § 85.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,174 - Investment, defined.

81-12,174.
Investment, defined.
Investment means the amount paid by the applicant for:
(1) Real property that is (a) constructed after the date of application, (b) owned by the applicant, (c) located at the qualified location, and (d) used to carry out the project; or
(2) Equipment that is (a) purchased after the date of application, (b) owned by the applicant, (c) located at the qualified location, and (d) used to carry out the project.
Source
Laws 2020, LB1107, § 90.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,176 - Private dollars, defined.

81-12,176.
Private dollars, defined.
(1) Private dollars means dollars donated to the applicant specifically for the project by any combination of one or more of the following:
(a) An individual;
(b) An organization that is exempt from income tax under section 501(c) of the Internal Revenue Code; or
(c) Any nongovernmental organization.
(2) Private dollars does not include any direct or indirect funding from any federal, state, or local government.
Source
Laws 2020, LB1107, § 92.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,177 - Project, defined.

81-12,177.
Project, defined.
Project means an investment by the applicant of at least one billion six hundred million dollars at one qualified location which is made to carry out the requirements for the qualified location to be included in the program described in Title VII, Subtitle C, section 740 of Public Law 116-92.
Source
Laws 2020, LB1107, § 93.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,178 - Qualified location, defined.

81-12,178.
Qualified location, defined.
Qualified location means any parcel of real property, or contiguous or adjacent parcels of real property, within the State of Nebraska that is or are owned by the applicant, and such other parcels owned by the applicant that are necessary to support the applicant's project at such parcel or parcels. Except to the extent required for a project to be included in the program described in Title VII, Subtitle C, section 740 of Public Law 116-92, the award made for a qualified location may not be used for athletic or recreational purposes, except that a qualified location may contain space, totaling less than ten percent of the facility square footage at the project, that may be used for food service or for exercise or recreational purposes as is commonly used for the health and well-being of employees, students, and patients.
Source
Laws 2020, LB1107, § 94.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,180 - Transformational period, defined.

81-12,180.
Transformational period, defined.
Transformational period means the period of time from the date of the complete application through the earlier of (1) the end of the tenth year after the year in which the complete application was filed with the director or (2) the end of the year in which the applicant attains the one-billion-six-hundred-million-dollar investment requirement.
Source
Laws 2020, LB1107, § 96.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,182 - Matching funds; eligibility; application; requirements; approval; deadlines.

81-12,182.
Matching funds; eligibility; application; requirements; approval; deadlines.
(1) In order to be eligible to receive the matching funds allowed in the Nebraska Transformational Projects Act, the applicant shall file an application with the director, on a form developed by the director, requesting an agreement.
(2) The application shall:
(a) Identify the project, including the qualified location of such project, and state that the applicant is pursuing a partnership with the federal government pursuant to Title VII, Subtitle C, section 740 of Public Law 116-92 for the project;
(b) State the estimated, projected amount of total new investment at the project, which shall not be less than one billion six hundred million dollars, including the estimated, projected amount of private dollars and matching funds;
(c) Include an independent assessment of the economic impact to Nebraska from the project and its construction, which shall be performed by a professional economist or economics firm which is not in the regular employ of the applicant. The assessment must show, to the reasonable satisfaction of the director, an economic impact to Nebraska of at least two billion seven hundred million dollars during the planning and construction period and at least four billion six hundred million dollars during the ten-year period beginning either when construction is commenced or when the application is approved;
(d) Include approval of the project and of submission of the application by the governing body of the applicant. Approval of the project may be subject to other federal, state, and local government approvals needed to complete the project and subject to obtaining the funding, financing, and donations needed for the project;
(e) State the E-Verify number or numbers that will be used by the applicant for employees at the qualified location as provided by the United States Citizenship and Immigration Services; and
(f) Contain a nonrefundable application fee of twenty-five thousand dollars. The fee shall be remitted to the State Treasurer for credit to the Nebraska Transformational Project Fund.
(3) An application must be complete to establish the date of the application. An application shall be considered complete once it contains the items listed in subsection (2) of this section.
(4) Once satisfied that the application is complete and that the applicant is eligible to receive the matching funds allowed in the Nebraska Transformational Projects Act, the director shall approve the application.
(5) There shall be no new applications filed under this section after December 31, 2025. Any complete application filed on or before December 31, 2025, shall be considered by the director and approved if the location and applicant qualify for approval. Agreements may be executed with regard to any complete application filed on or before December 31, 2025.
Source
Laws 2020, LB1107, § 98;
Laws 2023, LB727, § 102.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,184 - Transactions or activities excluded.

81-12,184.
Transactions or activities excluded.
The following transactions or activities shall not create investment under the Nebraska Transformational Projects Act except as specifically allowed by this section:
(1) The renegotiation of any private donor commitment in existence before the date of application, except to the extent of additional donation commitments;
(2) The purchase of any property which was previously owned by the applicant or a related entity. The first purchase by either the applicant or a related entity shall be treated as investment if the item was first placed in service in the state after the date of the application;
(3) The renegotiation of any agreement in existence on the date of application which does not materially change any of the material terms of the agreement shall be presumed to be a transaction entered into for the purpose of facilitating benefits under the act and shall not be allowed in the meeting of the required investment level under the act; and
(4) Any purchase of property from a related entity, except that the applicant will be considered to have made investment under the act to the extent the related entity would have been considered to have made investment on the purchase of the property if the related entity was considered the applicant.
Source
Laws 2020, LB1107, § 100.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,185 - Matching funds; receipt; conditions; payment.

81-12,185.
Matching funds; receipt; conditions; payment.
(1) Subject to section 81-12,188, an applicant shall, upon the applicant's project being selected for the program established under Title VII, Subtitle C, section 740 of Public Law 116-92 and the receipt of one billion federal dollars, be entitled to receive, from the State of Nebraska, three hundred million dollars as matching funds for the three hundred million dollars of private dollars received by the applicant by the end of the continuation period.
(2) Subject to section 81-12,188, the state shall pay the available matching funds to the applicant on an annual basis.
Source
Laws 2020, LB1107, § 101.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,186 - Matching funds; filing required; use; repayment; interest; director; powers and duties.

81-12,186.
Matching funds; filing required; use; repayment; interest; director; powers and duties.
(1) The right to matching funds prescribed in section 81-12,185 shall be established by filing the forms required by the director. The matching funds may only be used by the applicant to make investments at the project or to pay off debt financing for such investments. Matching funds and private dollars shall be counted towards the attainment of the one-billion-six-hundred-million-dollar investment requirement.
(2) Interest at the rate specified in section 45-104.02, as such rate may from time to time be adjusted, shall be due by the applicant on any repayment of matching funds.
(3) All interpretations of the Nebraska Transformational Projects Act shall be made by the director.
(4) An audit of a project shall be made by the director to the extent and in the manner determined by the director. The director may recover any matching funds which were erroneously allowed by issuing a repayment determination within the later of three years from the date the matching funds were paid or three years after the end of the continuation period.
(5) Any determination by the director that the applicant does not qualify, that a location is not a qualified location, that a project does not qualify, that a private-dollar donation does not qualify, or that matching funds must be repaid may be protested by the applicant to the director within sixty days after the mailing to the applicant of the written notice of the proposed determination by the director. If the notice of proposed determination is not protested in writing by the applicant within the sixty-day period, the proposed determination is a final determination. If the notice is protested, the director, after a formal hearing by the director or by an independent hearing officer appointed by the director, if requested by the applicant in such protest, shall issue a written order resolving such protest.
Source
Laws 2020, LB1107, § 102.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,187 - Matching funds; repayment; required; when.

81-12,187.
Matching funds; repayment; required; when.
(1) The applicant must make an investment of one billion six hundred million dollars at the project, of which at least one billion dollars shall come from federal funding, before the end of the transformational period. If the applicant fails to reach such threshold, all of the matching funds paid to the applicant under the Nebraska Transformational Projects Act shall be repaid by the applicant to the director, and the applicant shall be entitled to no matching funds for the project.
(2) The applicant must maintain the required level of investment for the entire continuation period. If the applicant fails to maintain the required level of investment for the entire continuation period, all of the matching funds paid to the applicant under the act shall be repaid by the applicant to the director, and the applicant shall be entitled to no matching funds for the project.
(3) If the applicant fails to receive, before the end of the continuation period, three hundred million dollars of donations of private dollars to be used for the project, then all matching funds paid to the applicant under the act shall be repaid by the applicant to the director.
(4) The repayment required by this section shall not occur if the failure to receive a donation, or achieve or maintain the required level of investment, was caused by an act of God or a national emergency.
Source
Laws 2020, LB1107, § 103.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,188 - Matching funds; receipt; conditions.

81-12,188.
Matching funds; receipt; conditions.
The right to receive matching funds under the Nebraska Transformational Projects Act:
(1) Shall be subject to the limitations provided in the act;
(2) Shall be subject to funds being appropriated by the Legislature; and
(3) Shall not be transferable.
Source
Laws 2020, LB1107, § 104.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,191 - Report; joint hearing.

81-12,191.
Report; joint hearing.
(1) No later than October 1, 2024, and no later than October 1 of each year thereafter, the director shall submit electronically an annual report for the previous fiscal year to the Legislature. The report shall be on a fiscal year, accrual basis that satisfies the requirements set by the Governmental Accounting Standards Board. The director shall, on or before December 15, 2024, and on or before December 15 of each year thereafter, appear at a joint hearing of the Appropriations Committee of the Legislature and the Revenue Committee of the Legislature and present the report. Any supplemental information requested by three or more committee members shall be presented within thirty days after the request.
(2) The report shall state (a) the payment of matching funds made by the State of Nebraska, (b) the expected payments of matching funds still to be made by the State of Nebraska, and (c) the investment made by the applicant.
(3) The report shall provide an explanation of the audit and review processes of the Department of Economic Development in approving and rejecting the provision of matching funds and in enforcing matching funds repayment.
(4) No information shall be provided in the report or in supplemental information that is protected by state or federal confidentiality laws. The identity of private donors shall not be included in the report.
Source
Laws 2020, LB1107, § 107.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,193 - Nebraska Transformational Project Fund; created; use; investment.

81-12,193.
Nebraska Transformational Project Fund; created; use; investment.
(1) The Nebraska Transformational Project Fund is hereby created. The fund shall receive money from application fees paid under the Nebraska Transformational Projects Act and from appropriations from the Legislature, grants, private contributions, repayments of matching funds, and all other sources. 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.
(2) It is the intent of the Legislature that the State Treasurer shall transfer an amount not to exceed three hundred million dollars to the Nebraska Transformational Project Fund. Such transfers shall only occur after the applicant has been selected for participation in the program described in Title VII, Subtitle C, section 740 of Public Law 116-92 and commitments totaling one billion three hundred million dollars in total investment, including only federal dollars and private donations, have been secured. In no case shall any transfer occur before fiscal year 2025-26 or before the total amount of refundable credits granted annually under the Nebraska Property Tax Incentive Act reaches three hundred seventy-five million dollars. Distributions shall only be made from the fund in amounts equal to the amount of private dollars received by the applicant for the project.
(3) Any money remaining in the fund after all obligations have been met shall be transferred to the General Fund.
Source
Laws 2020, LB1107, § 109.
Cross References
Nebraska Capital Expansion Act, see section 72-1269.
Nebraska Property Tax Incentive Act, see section 77-6701.
Nebraska State Funds Investment Act, see section 72-1260.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,194 - Applicant; contracts authorized; powers.

81-12,194.
Applicant; contracts authorized; powers.
(1) In order to accomplish a project under the Nebraska Transformational Projects Act, an applicant may enter into contracts with any person, firm, or corporation providing for the implementation of any such project and providing for the long-term payment of the cost of such project.
(2) No applicant shall pledge the credit of the State of Nebraska for the payment of any sum owing on account of such contract, except that there may be pledged for the payment of any such contract any appropriation specifically made by the Legislature for such purpose, together with such funds of the applicant as the governing body of the applicant determines. An applicant may also convey, lease, or lease back all or any part of the project authorized by the Nebraska Transformational Projects Act and the land on which such project is situated to such person, firm, or corporation as the applicant may contract with pursuant to this section to facilitate the long-term payment of the cost of such project. Any such conveyance or lease shall provide that when the cost of such project has been paid, together with interest and other costs thereon, such project and the land on which such project is located shall become the property of the applicant.
Source
Laws 2020, LB1107, § 110.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,198 - Applicant resources, defined.

81-12,198.
Applicant resources, defined.
Applicant resources means:
(1) Dollars donated to the applicant specifically for the project by any combination of one or more of the following:
(a) An individual;
(b) An organization that is exempt from income tax under section 501(c) of the Internal Revenue Code; or
(c) Any nongovernmental organization; and
(2) Any direct or indirect funding for the project from any federal, state, or local government, excluding any matching funds received pursuant to the Nebraska Rural Projects Act.
Source
Laws 2021, LB40, § 4.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,201 - Investment, defined.

81-12,201.
Investment, defined.
Investment means the amount paid by the applicant for the project. The term includes any applicant resources received by the applicant for the project. The term does not include any matching funds received by the applicant under the Nebraska Rural Projects Act.
Source
Laws 2021, LB40, § 7.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,203 - Project, defined.

81-12,203.
Project, defined.
Project means expenses incurred or to be incurred at one qualified location for:
(1) Site acquisition and preparation, utility extensions, and rail spur construction for the development of a new industrial rail access business park, including any such expenses incurred to assist an initial tenant at such business park that conducts business in the manufacturing, processing, distribution, or transloading trades; or
(2) Site acquisition and preparation and rail spur construction within thirty miles of the largest reservoir in this state.
Source
Laws 2021, LB40, § 9;
Laws 2023, LB531, § 39.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,206 - Transformational period, defined.

81-12,206.
Transformational period, defined.
Transformational period means the period of time from the date of application through the end of the tenth year after the year in which the complete application was filed with the director.
Source
Laws 2021, LB40, § 12.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,208 - Matching funds; eligibility; application; requirements; approval; deadlines.

81-12,208.
Matching funds; eligibility; application; requirements; approval; deadlines.
(1) In order to be eligible to receive the matching funds allowed in the Nebraska Rural Projects Act, the applicant shall file an application with the director, on a form developed by the director, requesting an agreement.
(2) The application shall:
(a) Identify the project, including the qualified location of such project;
(b) State the estimated, projected amount of total new investment at the project, including the estimated, projected amount of applicant resources;
(c) State the E-Verify number or numbers that will be used by the applicant for employees at the qualified location as provided by the United States Citizenship and Immigration Services; and
(d) Contain a nonrefundable application fee of one thousand dollars. The director shall collect all application fees and shall remit the fees to the State Treasurer for credit to the Nebraska Rural Projects Fund.
(3) An application must be complete to establish the date of application. An application shall be considered complete once it contains the items listed in subsection (2) of this section.
(4) Once satisfied that the application is complete and that the applicant is eligible to receive the matching funds allowed in the Nebraska Rural Projects Act, the director shall approve the application.
(5) There shall be no new applications filed under this section after June 30, 2023. Any complete application filed on or before June 30, 2023, shall be considered by the director and approved if the location and applicant qualify for approval. Agreements may be executed with regard to any complete application filed on or before June 30, 2023.
Source
Laws 2021, LB40, § 14.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,210 - Transactions or activities excluded.

81-12,210.
Transactions or activities excluded.
The following transactions or activities shall not create investment under the Nebraska Rural Projects Act except as specifically allowed by this section:
(1) The renegotiation of any private donor commitment in existence before the date of application, except to the extent of additional donation commitments;
(2) The purchase of any property which was previously owned by the applicant or a related entity. The first purchase by either the applicant or a related entity shall be treated as investment if the item was first placed in service in the state after the date of application;
(3) The renegotiation of any agreement in existence on the date of application which does not materially change any of the material terms of the agreement shall be presumed to be a transaction entered into for the purpose of facilitating benefits under the act and shall not be allowed in the calculation of investment under the act; and
(4) Any purchase of property from a related entity, except that the applicant will be considered to have made investment under the act to the extent the related entity would have been considered to have made investment on the purchase of the property if the related entity was considered the applicant.
Source
Laws 2021, LB40, § 16.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,211 - Matching funds; receipt; conditions; exception; payment.

81-12,211.
Matching funds; receipt; conditions; exception; payment.
(1) Except as provided in subsection (2) of this section, an applicant shall, subject to section 81-12,213, be entitled to receive matching funds from the State of Nebraska as follows:
(a) For any amount of investment up to two million five hundred thousand dollars made by the applicant by the end of the transformational period, the applicant shall be entitled to receive two dollars of matching funds for each such dollar of investment; and
(b) For any amount of investment in excess of two million five hundred thousand dollars made by the applicant by the end of the transformational period, the applicant shall be entitled to receive five dollars of matching funds for each such dollar of investment.
(2) For any project described in subdivision (2) of section 81-12,203, the applicant shall be entitled to receive up to five million dollars of matching funds from the State of Nebraska without having to make any investment in the project. Any amount of matching funds in excess of five million dollars shall be paid in accordance with subsection (1) of this section.
(3) Subject to section 81-12,213, the state shall pay the available matching funds to the applicant on an annual basis.
Source
Laws 2021, LB40, § 17;
Laws 2023, LB531, § 40.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,212 - Matching funds; filing required; use; repayment; interest; director; powers and duties.

81-12,212.
Matching funds; filing required; use; repayment; interest; director; powers and duties.
(1) The right to matching funds prescribed in section 81-12,211 shall be established by filing the forms required by the director. Such forms shall be filed by the applicant on an annual basis and shall be used by the director to determine the amount of matching funds to be paid to the applicant each year. The matching funds may only be used by the applicant to pay for the project or to pay off debt financing related to the project.
(2) Interest at the rate specified in section 45-104.02, as such rate may from time to time be adjusted, shall be due by the applicant on any repayment of matching funds required under the Nebraska Rural Projects Act.
(3) All interpretations of the Nebraska Rural Projects Act shall be made by the director.
(4) An audit of a project shall be made by the director to the extent and in the manner determined by the director. The director may recover any matching funds which were erroneously allowed by issuing a repayment determination within the later of three years from the date the matching funds were paid or three years after the end of the transformational period.
(5) Any determination by the director that the applicant does not qualify, that a location is not a qualified location, that a project does not qualify, that investment does not qualify, or that matching funds must be repaid may be protested by the applicant to the director within sixty days after the mailing to the applicant of the written notice of the proposed determination by the director. If the notice of proposed determination is not protested in writing by the applicant within the sixty-day period, the proposed determination is a final determination. If the notice is protested, the director, after a formal hearing by the director or by an independent hearing officer appointed by the director, if requested by the applicant in such protest, shall issue a written order resolving such protest.
Source
Laws 2021, LB40, § 18.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,213 - Matching funds; receipt; conditions; limitations; legislative intent regarding appropriations.

81-12,213.
Matching funds; receipt; conditions; limitations; legislative intent regarding appropriations.
(1) The right to receive matching funds under the Nebraska Rural Projects Act:
(a) Shall be subject to the limitations on matching funds provided in subsections (3) and (4) of this section and any other limitations provided in the act;
(b) Shall be subject to funds being appropriated by the Legislature; and
(c) Shall not be transferable.
(2) No less than fifty million dollars of matching funds shall be paid in total under the Nebraska Rural Projects Act.
(3) No more than thirty million dollars of matching funds shall be paid for any one project out of the initial fifty million dollars appropriated pursuant to subsection (7) of this section. If more than fifty million dollars are appropriated under the act, no one project shall receive more than sixty percent of the amount appropriated in excess of fifty million dollars.
(4) An applicant shall not receive more matching funds than the amount of matching funds approved under the applicant's agreement.
(5) For any year in which more than one applicant qualifies for matching funds, the applicant with the earlier date of application shall receive the full amount of matching funds to which he or she is entitled before any matching funds may be paid to the applicant with the later date of application. If an applicant cannot be paid in full in any given year, then the matching funds shall be paid in later years until fully funded, subject to the limitations provided in this section.
(6) It is the intent of the Legislature that all matching funds owed to applicants under agreements signed pursuant to the Nebraska Rural Projects Act shall be paid by the state in full if the applicant has met all requirements for such funds.
(7) It is further the intent of the Legislature to appropriate twenty-five million dollars for fiscal year 2021-22 and twenty-five million dollars for fiscal year 2022-23 to the Department of Economic Development for purposes of carrying out the Nebraska Rural Projects Act.
Source
Laws 2021, LB40, § 19;
Laws 2022, LB1012, § 25.
2023 Nebraska Revised Statutes › Chapter 81 - State Administrative Departments › 81-12,215 - Project; land on which project is situated; sale; approval required; conditions.

81-12,215.
Project; land on which project is situated; sale; approval required; conditions.
(1) An applicant may sell all or any part of the project authorized by the Nebraska Rural Projects Act or the land on which such project is situated to a person who is seeking to establish a business at the site of such project if the sale is approved by the director.
(2) The director shall approve a sale under this section if the director finds that the sale furthers the goals of the project and the Nebraska Rural Projects Act.
(3) Any sale under this section shall not affect any matching funds already granted to the applicant and shall not disqualify the applicant from receiving matching funds after the sale.
Source
Laws 2021, LB40, § 21.