2022 Nebraska Revised Statutes
Chapter 81 - State Administrative Departments
81-12,187 - Matching funds; repayment; required; when.
81-12,187. Matching funds; repayment; required; when.
(1) The applicant must make an investment of one billion six hundred million dollars at the project, of which at least one billion dollars shall come from federal funding, before the end of the transformational period. If the applicant fails to reach such threshold, all of the matching funds paid to the applicant under the Nebraska Transformational Projects Act shall be repaid by the applicant to the director, and the applicant shall be entitled to no matching funds for the project.
(2) The applicant must maintain the required level of investment for the entire continuation period. If the applicant fails to maintain the required level of investment for the entire continuation period, all of the matching funds paid to the applicant under the act shall be repaid by the applicant to the director, and the applicant shall be entitled to no matching funds for the project.
(3) If the applicant fails to receive, before the end of the continuation period, three hundred million dollars of donations of private dollars to be used for the project, then all matching funds paid to the applicant under the act shall be repaid by the applicant to the director.
(4) The repayment required by this section shall not occur if the failure to receive a donation, or achieve or maintain the required level of investment, was caused by an act of God or a national emergency.
Source
- Laws 2020, LB1107, ยง 103.
