Change provisions of the Business Innovation Act

LB 1044 amends Nebraska's Business Innovation Act to update two state-funded programs supporting small businesses and individuals. It changes the matching requirements for prototype development funding (25% nonstate funds for businesses in economic redevelopment areas, 50% otherwise) and sets a $150,000 project cap, while requiring a business plan with proof-of-concept. For commercialization, the bill mandates feasibility studies with sales projections, includes specific support services like market assessments and mentorship, and sets a $500,000 project cap with a $4 million annual minimum funding level. The department must also develop an annual qualified action plan by January 1 of even-numbered years, outlining selection criteria focused on job growth, private investment, and repayment.