This bill amends sections 81-12,110 and 81-12,208 of the Reissue Revised Statutes of Nebraska to establish new application deadlines for the Nebraska Innovation Hub Act and the Nebraska Rural Projects Act. Specifically, the bill allows applications for iHub designations to be accepted through December 31, 2025, and sets a similar deadline for applications under the Nebraska Rural Projects Act, replacing the previous deadline of June 30, 2023. The bill also outlines the requirements for iHub applications, including a detailed budget, management structure, and a five-year plan, while emphasizing the importance of serving underrepresented communities.

Additionally, the bill mandates that the director of the relevant department evaluate applications based on a weighted scoring system and report annually on the progress of designated iHubs. It also stipulates that no new applications for matching funds under the Nebraska Rural Projects Act will be accepted after December 31, 2025, ensuring that any applications submitted by that date will be considered for approval. The original sections of the statutes are repealed to incorporate these changes.