This bill amends section 81-12,162 of the Reissue Revised Statutes of Nebraska to modify the small business investment program administered by the Department of Economic Development. The key change is that the department is now required to award up to three million dollars per year under this program, starting in fiscal year 2027-28. The bill emphasizes the importance of equitable access to financial assistance across all geographic areas of Nebraska and outlines the criteria for awarding grants to microloan delivery organizations, technical assistance organizations, and innovation hubs.

Additionally, the bill specifies that any financial assistance awarded must be matched by nonstate funds equivalent to thirty-five percent of the grant funds requested. It also sets parameters for the use of awarded funds, including establishing revolving loan funds and providing grants for loan-loss reserve funds. The original section of the statute is repealed, consolidating the updated provisions into the amended law.