Budget & Taxes (Small Business)

LB 1205 requires Nebraska's Department of Economic Development to award grants under the Small Business Investment Program to support small businesses. The bill directs funding to microloan organizations, technical assistance groups, and innovation hubs that provide loans and business support to small businesses, with a focus on job creation and helping low-income communities. Key requirements include a $3 million annual funding limit, a 35% nonstate matching fund requirement for recipients, and mandating that at least 50% of funds support business technical assistance. This bill directly affects small business support organizations and microenterprises across Nebraska, particularly in rural and economically distressed areas.

LB 100 creates a new Office of Business, Entrepreneurship, and Innovation within Nebraska's Department of Economic Development to support startups and small businesses. It requires state agencies to aim for 5% of contracts and workforce development funding to go to businesses under five years old, and encourages eliminating business license fees for new Nebraska-based businesses. The office must report annually on policy impacts and track progress toward these goals, with state agencies also required to report on their efforts. These provisions directly affect new businesses (under five years old) and state agencies managing contracts, workforce programs, and economic development funds.