Statute 81 12 153

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

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.Source Laws 2011, LB387, § 2; Laws 2015, LB449, § 1; Laws 2017, LB217, § 34; Laws 2022, LB598, § 6; Laws 2022, LB1012, § 21.