Neb. Rev. Stat. §§ 81-12,153

Current with changes through the 2024 First Special Legislative Session

Section 81-12,153 - Terms, defined

For purposes of the Business Innovation Act:

(1) Department means the Department of Economic Development;

(2) Economic redevelopment area means an area in the State of Nebraska in which:

(a) The average rate of unemployment in the area during the period covered by the most recent federal decennial census or American Community Survey 5-Year Estimate by the United States Bureau of the Census is at least one hundred fifty percent of the average rate of unemployment in the state during the same period; and

(b) The average poverty rate in the area is twenty percent or more for the federal census tract in the area;

(3) Federal grant program means the federal Small Business Administration's Small Business Innovation Research grant program or Small Business Technology Transfer grant program;

(4) Microenterprise means a for-profit business entity with not more than ten full-time equivalent employees;

(5) Prototype means an original model on which something is patterned by a resident of Nebraska or a company located in Nebraska; and

(6) Value-added agriculture means increasing the net worth of food or nonfood agricultural products by processing, alternative production and handling methods, collective marketing, or other innovative practices.

Neb. Rev. Stat. §§ 81-12,153

Laws 2011, LB 387, § 2; Laws 2015, LB 449, § 1; Laws 2017, LB 217, § 34; Laws 2022, LB 598, § 6; Laws 2022, LB1012, § 21.

Amended by Laws 2022, LB 598,§ 6, eff. 7/21/2022.

Amended by Laws 2017, LB 217,§ 34, eff. 8/24/2017, op. 8/24/2017.

Amended by Laws 2015, LB 449,§ 1, eff. 5/14/2015, op. 8/30/2015.