Prohibit the use of eminent domain to acquire certain privately owned electric generation facilities

LB 1261 prohibits Nebraska consumer-owned utilities (like public power districts and cooperatives) from using eminent domain to acquire privately owned electric generation facilities serving large industrial customers. It specifically applies to facilities over 1,000 megawatts that are co-located with the industrial site, have grid interconnection approval, and operate under long-term contracts with the utility. These contracts must include a waiver of eminent domain rights, prohibit resale of electricity, and require the industrial customer to cover all related utility costs. The bill repeals a previous law that allowed such acquisitions, focusing on protecting private industrial energy projects under defined conditions.