LB1333 LB1333
2024 2024
LEGISLATURE OF NEBRASKA
ONE HUNDRED EIGHTH LEGISLATURE
SECOND SESSION
LEGISLATIVE BILL 1333
Introduced by Vargas, 7; Ballard, 21.
Read first time January 17, 2024
Committee: Appropriations
1 A BILL FOR AN ACT relating to the Business Innovation Act; to amend
2 section 81-12,157, Revised Statutes Cumulative Supplement, 2022; to
3 change federal award matching grant and funding limitations as
4 prescribed; and to repeal the original section.
5 Be it enacted by the people of the State of Nebraska,
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LB1333 LB1333
2024 2024
1 Section 1. Section 81-12,157, Revised Statutes Cumulative
2 Supplement, 2022, is amended to read:
3 81-12,157 (1) The department shall establish a phase one application
4 program to provide grants to small businesses that qualify under the
5 federal grant program for the purposes of planning for an application
6 under the federal grant program. If a small business receives funding
7 under the federal grant program, the department or a nonprofit entity
8 designated by the department may make grants to match up to sixty-five
9 percent of the amount of the federal grant.
10 (2) Planning grants under subsection (1) of this section shall not
11 exceed five thousand dollars per project. Federal award matching grants
12 under this section shall not exceed (a) one hundred fifty thousand
13 dollars for a business receiving a phase one grant under the federal
14 grant program and (b) three hundred thousand dollars for a business
15 receiving a phase two grant under the federal grant program. No business
16 shall receive funding for more than one project every two years.
17 (3) The department may award up to six million dollars per year for
18 grants under this section.
19 Sec. 2. Original section 81-12,157, Revised Statutes Cumulative
20 Supplement, 2022, is repealed.
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