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Bill > LB1205
NE LB1205
NE LB1205Require the Department of Economic Development to award grants under the Business Innovation Act
summary
Introduced
01/21/2026
01/21/2026
In Committee
01/23/2026
01/23/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
109th Legislature
Bill Summary
A BILL FOR AN ACT relating to the Department of Economic Development; to amend section 81-12,162, Reissue Revised Statutes of Nebraska; to change a requirement relating to the small business investment program; and to repeal the original section.
AI Summary
This bill amends the Small Business Investment Program by changing a requirement for the Department of Economic Development to award grants. Specifically, it mandates that the department *shall* award up to three million dollars annually to organizations that provide microloans (small loans, typically under $150,000, to help individuals start or grow very small businesses), technical assistance (business advice and support), or operate innovative hubs (centers that foster new business development). Previously, the department *may* have awarded these funds, meaning it had the discretion to do so, but this change makes it a requirement. The bill also repeals the original section of law it amends.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Speaker priority bill (on 02/20/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=64031 |
| Analysis - Committee Statement | https://nebraskalegislature.gov/FloorDocs/109/PDF/CS/LB1205.pdf |
| Fiscal Note for LB1205 | https://nebraskalegislature.gov/FloorDocs/109/PDF/FN/LB1205_20260209-131755.pdf |
| Analysis - Statement of Intent | https://nebraskalegislature.gov/FloorDocs/109/PDF/SI/LB1205.pdf |
| Kauth FA865 | https://nebraskalegislature.gov/FloorDocs/109/PDF/AM/FA865.pdf |
| BillText | https://nebraskalegislature.gov/FloorDocs/109/PDF/Intro/LB1205.pdf |
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