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NebraskaLB1205109th Legislature 1st and 2nd Sessionslegislature

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

Sponsored By: Stan Clouse

Signed by Governor

Banking, Commerce and Insurance Committee

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

New statewide microlending support for small businesses

The law creates a statewide microlending support program at the Department of Economic Development. The department gives grants to microloan delivery groups, technical assistance groups, and innovation hubs, and aims to spread awards fairly across Nebraska. Money can match other grants, start revolving loan funds, set up guaranty funds, build loan‑loss reserves, and pay allowed operating costs. The department hires a statewide assistance group to run the program. The department may award up to $3 million each year; beginning in fiscal year 2027–28, it must award up to $3 million per year.

Microloans up to $150K and more help

Microloans made with program funds cannot exceed $150,000 per loan. At least 50% of microloan funds must go to small business technical help, like training and advising. This pairs a firm loan cap with more hands‑on support for borrowers.

Grant match and admin cost limits

Grant recipients must provide nonstate matching funds equal to 35% of the requested amount. Matches can be cash or in‑kind from private, federal, local, bank, or other non‑legislative sources. Organizations may use no more than 20% of each award for operating costs. These rules push more money toward lending and services, but raise funding needs for applicants.

Sponsors & Cosponsors

Sponsor

  • Stan Clouse

    Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 155 • No: 0

legislature vote • 4/9/2026

Final Reading

Yes: 49 • No: 0

legislature vote • 3/12/2026

Vote

Yes: 34 • No: 0 • Other: 15

legislature vote • 3/4/2026

Vote

Yes: 38 • No: 0 • Other: 11

legislature vote • Unknown

Vote

Yes: 34 • No: 0 • Other: 15

Actions Timeline

  1. Approved by Governor on April 14, 2026

    4/14/2026legislature

  2. Presented to Governor on April 9, 2026

    4/9/2026legislature

  3. President/Speaker signed

    4/9/2026legislature

  4. Passed on Final Reading 49-0-0

    4/9/2026legislature

  5. Enrollment and Review ST66 recorded

    3/17/2026legislature

  6. Enrollment and Review ST66 filed

    3/17/2026legislature

  7. Placed on Final Reading with ST66

    3/17/2026legislature

  8. Conrad name added

    3/12/2026legislature

  9. Advanced to Enrollment and Review for Engrossment

    3/12/2026legislature

  10. Clouse AM2630 adopted

    3/12/2026legislature

  11. Clouse AM2630 filed

    3/12/2026legislature

  12. Kauth FA865 withdrawn

    3/12/2026legislature

  13. Placed on Select File

    3/10/2026legislature

  14. Andersen name added

    3/9/2026legislature

  15. Advanced to Enrollment and Review Initial

    3/4/2026legislature

  16. Speaker priority bill

    2/20/2026legislature

  17. Placed on General File

    2/17/2026legislature

  18. Notice of hearing for February 10, 2026

    1/23/2026legislature

  19. Referred to Banking, Commerce and Insurance Committee

    1/23/2026legislature

  20. Kauth FA865 filed

    1/22/2026legislature

  21. Date of introduction

    1/21/2026legislature

Bill Text

  • Introduced

    1/21/2026

    PDF

  • Enrolled / Slip Law

    PDF

  • Final / Enacted

    PDF

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