The proposed bill amends various sections of the Nebraska Revised Statutes to enhance the administration of combined taxes and unemployment insurance, while also supporting workforce development and innovation programs. A significant change is the establishment of the "Business Innovation Cash Fund," which will receive allocations from state unemployment insurance tax collections alongside the existing Workforce Development Program Cash Fund. The bill clarifies definitions related to "combined tax" and "state unemployment insurance tax," ensuring they align with the new funding structure. Additionally, it mandates that employers with an annual payroll of $100,000 or more file combined tax returns and wage reports electronically, unless they can demonstrate hardship.

Furthermore, the bill outlines the consequences for employers who default on combined tax payments, including the potential for liens on their property. It also requires that contracts awarded by the state include provisions for the payment of unemployment taxes. Entities receiving financial assistance under the Business Innovation Act will be obligated to submit quarterly wage reports to the Department of Labor, regardless of their Employment Security Law status. The legislation aims to streamline the legal framework by repealing outdated statutes, ultimately enhancing support for business innovation and maintaining a robust unemployment insurance system in Nebraska.

Statutes affected:
Introduced: 48-602, 48-622.01, 48-648, 48-649.01, 48-657