State intent regarding appropriations to the Department of Economic Development

LB 1167 amends funding for Nebraska's Department of Economic Development's Industrial Recruitment program, specifying how $11 million in General Funds for fiscal year 2026-27 must be used. It directs this funding exclusively for state aid grants under the Business Innovation Act, with $3 million specifically allocated for microenterprise assistance grants. The bill also reappropriates unspent Cash Fund balances from the Site and Building Development Act and states legislative intent to allocate an additional $4.5 million in Cash Funds for future economic development efforts. This bill directly affects the Department of Economic Development and businesses receiving these targeted grants.