Bill > LB419

This bill changes the Nebraska Advantage Act by: 1) Extending the application deadline for the program's six tiers to December 31, 2026 (rather than the previous deadline of December 31, 2020). 2) Modifying the requirements for the number of new employees and their wages for the different tiers, generally increasing the thresholds. 3) Creating the Nebraska Advantage Deal-Closing Fund, a new grant program administered by the Department of Economic Development to provide funding to taxpayers who have met the requirements under the Nebraska Advantage Act for incentives. The legislature intends to appropriate $40 million annually to this new fund. 4) Applying the changes made by this bill to all applications filed on or after the effective date of the act, with previous applications continuing to be governed by the prior provisions of the Nebraska Advantage Act.

Budget and Finance

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=37691