Nebraska LB1205: Require the Department of Economic Development to award grants under the Business Innovation Act

What the bill says

A bill FOR AN ACT relating to the Department of Economic Development; to amend section 81-12,162, Reissue Revised Statutes of Nebraska; to change a requirement relating to the small business investment program; and to repeal the original section.

From the enrolled text:

A BILL FOR AN ACT relating to the Department of Economic Development; to amend section 81-12,162, Reissue Revised Statutes of Nebraska; to change a requirement relating to the small business investment program; and to repeal the original section. Section 1. Section 81-12,162, Reissue Revised Statutes of Nebraska, is amended to read: 81-12,162 (1) The department shall establish a small business investment program. The program: (a) Shall provide grants to microloan delivery organizations, microloan technical assistance organizations, and innovation hubs to: (i) Better assure that Nebraska's microenterprises are able to realize their full potential to create jobs, enhance entrepreneurial skills and activity, and increase low-income households' capacity to become selfsufficient; (ii) Provide funding to foster the creation of microenterprises; (iii) Establish the department as the coordinating office for the facilitation of microlending and microenterprise development; (iv) Facilitate the development of a permanent, statewide infrastructure of microlending support organizations to serve Nebraska's microenterprise and self-employment sectors; (v) Enable the department to provide grants to community-based microenterprise development organizations in order to encourage the development and growth of microenterprises throughout Nebraska; and (vi) Enable the department to engage in contractual relationships with statewide microlending support organizations and innovation hubs which have the capacity to leverage additional nonstate funds for microenterprise lending. To the maximum extent possible, the selection process should assure that the …

Read the full official text

Sponsors

• Stanley Clouse (NP, 37) · primary sponsor

Latest actions

1. April 17, 2026: Approved by Governor on April 14, 2026
2. April 9, 2026: Presented to Governor on April 9, 2026
3. April 9, 2026: President/Speaker signed
4. April 9, 2026: Passed on Final Reading 49-0-0
5. March 17, 2026: Enrollment and Review ST66 recorded
6. March 17, 2026: Enrollment and Review ST66 filed
7. March 17, 2026: Placed on Final Reading with ST66
8. March 12, 2026: Conrad name added
9. March 12, 2026: Advanced to Enrollment and Review for Engrossment
10. March 12, 2026: Clouse AM2630 adopted

Votes

• Final Reading (April 9, 2026): 49 yea, 0 nay, passed
• Select File: AM 2630 Clouse (March 12, 2026): 34 yea, 0 nay, passed
• General File: ADVANCE TO E&R INITIAL (March 4, 2026): 38 yea, 0 nay, passed

Common questions

What is LB1205?

LB1205 is a bill in the Nebraska Legislature (109th Legislature): Require the Department of Economic Development to award grants under the Business Innovation Act.

What does LB1205 do?

In its own words: A bill FOR AN ACT relating to the Department of Economic Development; to amend section 81-12,162, Reissue Revised Statutes of Nebraska; to change a requirement relating to the small business investment program; and to repeal the original section.

What is the status of LB1205?

Signed into law as of April 17, 2026. Latest action: Approved by Governor on April 14, 2026 (April 17, 2026).

Who sponsored LB1205?

Stanley Clouse (NP, 37).

Where is the official record for LB1205?

On the Nebraska Legislature website: https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=64031