Bill > LB536

This bill introduces the Manufacturing Modernization Pilot Investment Act, which aims to support Nebraska's manufacturing sector by providing one-time grants to help manufacturers invest in smart technologies and increase productivity. The bill establishes a grant program for eligible manufacturing operations, defined as businesses with a North American Industry Classification System (NAICS) number between 31-33, at least three years of operation, minimum of three full-time employees, and the ability to provide matching financial support. Manufacturers can apply for grants between October 1-November 1, 2025, with each grant capped at $250,000 and requiring a one-to-one private matching contribution. Eligible projects must involve investments in technology like specialized hardware or software that can improve a manufacturer's efficiency and competitiveness, and the project cannot have already begun before the application. The Department of Economic Development will administer the grants through a newly created Manufacturing Modernization Pilot Investment Fund, which can receive money from various sources including legislative transfers and gifts. The bill includes provisions to ensure accountability, such as requiring repayment of grants if a manufacturer no longer meets eligibility requirements, and authorizes the department to create rules and regulations to implement the program. The act is designed to provide a temporary, targeted economic development initiative to help modernize Nebraska's manufacturing sector.

Business and Industry

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59714