Nebraska Statutes 81-12,108. Terms, defined
For purposes of the Nebraska Innovation Hub Act:
Terms Used In Nebraska Statutes 81-12,108
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
(1) Department means the Department of Economic Development;
(2) Director means the Director of Economic Development;
(3) Economic redevelopment area means an area in the State of Nebraska in which:
(a) The average rate of unemployment in the area during the period covered by the most recent federal decennial census or American Community Survey 5-Year Estimate by the United States Bureau of the Census is at least one hundred fifty percent of the average rate of unemployment in the state during the same period; and
(b) The average poverty rate in the area is twenty percent or more for the federal census tract in the area;
(4) iHub area means the geographical area in this state in which an iHub will operate. An iHub area shall be located within:
(a) An economic redevelopment area; or
(b) An enterprise zone designated pursuant to the Enterprise Zone Act;
(5) iHub partner means an entity described in section 81-12,111 that collaborates with an iHub for purposes of driving economic growth within an iHub area;
(6) Innovation hub or iHub means a private nonprofit corporation that is designated by the director as an iHub; and
(7) Postsecondary educational institution means a two-year or four-year college or university which is a member institution of an accrediting body recognized by the United States Department of Education.