This bill amends section 81-12,241 of the Reissue Revised Statutes of Nebraska, focusing on grant funding provisions related to the Economic Recovery Act. It establishes a framework for the Economic Recovery and Incentives Division of the Department of Economic Development to award grants aimed at supporting communities disproportionately affected by the COVID-19 pandemic. The bill introduces a Qualified Census Tract Recovery Grant Program, which allocates funding to public and private entities in qualified census tracts, with specific funding caps for different areas, including a maximum of $10 million for eligible grantees in both metropolitan and primary class cities. Additionally, it outlines various purposes for grant funding, including affordable housing initiatives, economic development, and crime prevention programs.

Key changes in the bill 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, while explicitly prohibiting the use of funds in downtown areas of metropolitan cities. The bill also emphasizes the need for grant recipients to engage with community advisory committees and hold public input meetings before receiving funds. Furthermore, it repeals the original section 81-12,241, thereby updating the legal framework governing these grant programs to better address the economic recovery needs of affected communities.