Nebraska Statutes 81-12,213. Matching funds; receipt; conditions; limitations; legislative intent regarding appropriations
(1) The right to receive matching funds under the Nebraska Rural Projects Act:
Terms Used In Nebraska Statutes 81-12,213
- Applicant: means a nonprofit economic development corporation. See Nebraska Statutes 81-12,197
- Date of application: means the date that a completed application is filed under the Nebraska Rural Projects Act. See Nebraska Statutes 81-12,199
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- 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
- Year: means the fiscal year of the State of Nebraska. See Nebraska Statutes 81-12,207
(a) Shall be subject to the limitations on matching funds provided in subsections (3) and (4) of this section and any other limitations provided in the act;
(b) Shall be subject to funds being appropriated by the Legislature; and
(c) Shall not be transferable.
(2) No less than fifty million dollars of matching funds shall be paid in total under the Nebraska Rural Projects Act.
(3) No more than thirty million dollars of matching funds shall be paid for any one project out of the initial fifty million dollars appropriated pursuant to subsection (7) of this section. If more than fifty million dollars are appropriated under the act, no one project shall receive more than sixty percent of the amount appropriated in excess of fifty million dollars.
(4) An applicant shall not receive more matching funds than the amount of matching funds approved under the applicant’s agreement.
(5) For any year in which more than one applicant qualifies for matching funds, the applicant with the earlier date of application shall receive the full amount of matching funds to which he or she is entitled before any matching funds may be paid to the applicant with the later date of application. If an applicant cannot be paid in full in any given year, then the matching funds shall be paid in later years until fully funded, subject to the limitations provided in this section.
(6) It is the intent of the Legislature that all matching funds owed to applicants under agreements signed pursuant to the Nebraska Rural Projects Act shall be paid by the state in full if the applicant has met all requirements for such funds.
(7) It is further the intent of the Legislature to appropriate twenty-five million dollars for fiscal year 2021-22 and twenty-five million dollars for fiscal year 2022-23 to the Department of Economic Development for purposes of carrying out the Nebraska Rural Projects Act.