Business and tourism development bill approved

The Legislature passed a bill May 7 designed to stimulate business and tourism development in Nebraska.

LB449, introduced by Omaha Sen. Heath Mello, increases the maximum amount of microloan funds from $1 million to $2 million that could be awarded annually by the state Department of Economic Development. The department is required to increase from $500,000 to $1 million the minimum amount it awards each year and increase individual microloan limits from $50,000 to $100,000.

Other provisions of LB449 will increase from $1 million to $4 million the maximum amount the department may award annually through matching federal grant programs for:
• small business planning;
• agriculture enterprise development;
• companies or individuals wanting to market a product prototype or process;
• companies using Nebraska public or private college or university faculty and facilities for new product research and development; and
• companies or individuals seeking to create a product prototype developed in a Nebraska business, or public or private college or university, in which case the grant limit would be raised from $50,000 to $150,000 per project.

Additionally, the state Tourism Commission is required to expand the use of tourism promotion funds for marketing assistance grants to communities and organizations hosting events that have the potential to attract large numbers of out-of-state visitors.

The bill also authorizes the commission to appoint a special committee to research which sites should be designated as significant tourist attractions in the state and use highway markers to identify them.

The commission is prohibited from purchasing markers until funding is secured through gifts or other sources. The state Department of Roads will locate, install and maintain the markers. The commission will reimburse expenses incurred by the department.

Lawmakers passed the bill with an emergency clause on a 48-0 vote.