This bill amends section 81-12,241 of the Reissue Revised Statutes of Nebraska to enhance the provisions related to grant funding for business parks under the Economic Recovery Act. It establishes a framework for the Economic Recovery and Incentives Division of the Department of Economic Development to award grants, with a focus on communities disproportionately impacted by the COVID-19 pandemic. The bill introduces a Qualified Census Tract Recovery Grant Program, allocating up to ten million dollars for grants to eligible grantees in both metropolitan and primary class cities, and outlines specific funding purposes, including support for affordable housing, economic development initiatives, and partnerships with nonprofit organizations.

Key changes include the insertion of language specifying that grant funding for business parks must be located within or adjacent to qualified census tracts and an inland port district within a metropolitan class city, while explicitly prohibiting the use of funds in downtown areas. The bill also details the requirements for grant recipients, such as attending community advisory meetings and establishing separate bank accounts for grant management. Additionally, it repeals the original section 81-12,241, thereby updating the legal framework governing these grants to better address the economic recovery needs of affected communities.