Nebraska Statutes 81-12,211. Matching funds; receipt; conditions; exception; payment
(1) Except as provided in subsection (2) of this section, an applicant shall, subject to section 81-12,213, be entitled to receive matching funds from the State of Nebraska as follows:
Terms Used In Nebraska Statutes 81-12,211
- Applicant: means a nonprofit economic development corporation. See Nebraska Statutes 81-12,197
- Investment: means the amount paid by the applicant for the project. See Nebraska Statutes 81-12,201
- Matching funds: means the funds provided by the State of Nebraska pursuant to section 81-12,211. See Nebraska Statutes 81-12,202
- Project: means expenses incurred or to be incurred at one qualified location for:
(1) Site acquisition and preparation, utility extensions, and rail spur construction for the development of a new industrial rail access business park, including any such expenses incurred to assist an initial tenant at such business park that conducts business in the manufacturing, processing, distribution, or transloading trades. See Nebraska Statutes 81-12,203
- 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
- Transformational period: means the period of time from the date of application through the end of the tenth year after the year in which the complete application was filed with the director. See Nebraska Statutes 81-12,206
(a) For any amount of investment up to two million five hundred thousand dollars made by the applicant by the end of the transformational period, the applicant shall be entitled to receive two dollars of matching funds for each such dollar of investment; and
(b) For any amount of investment in excess of two million five hundred thousand dollars made by the applicant by the end of the transformational period, the applicant shall be entitled to receive five dollars of matching funds for each such dollar of investment.
(2) For any project described in subdivision (2) of section 81-12,203, the applicant shall be entitled to receive up to five million dollars of matching funds from the State of Nebraska without having to make any investment in the project. Any amount of matching funds in excess of five million dollars shall be paid in accordance with subsection (1) of this section.
(3) Subject to section 81-12,213, the state shall pay the available matching funds to the applicant on an annual basis.
Source
- Laws 2021, LB40, § 17;
- Laws 2023, LB531, § 40.
- Operative Date: June 7, 2023