NE LB1015

Creates the Business Innovation Cash Fund to receive a portion of state unemployment insurance tax revenue, alongside the existing Workforce Development Program Cash Fund, to support workforce innovation programs under the Business Innovation Act

Requires the Commissioner of Labor to annually determine the percentage split of state unemployment insurance tax revenue between the Workforce Development Program Cash Fund and the Business Innovation Cash Fund by December 31

Mandates a memorandum of understanding between the Department of Labor and Department of Economic Development by September 30 annually to share information about Business Innovation Act programs

Requires any entity receiving financial assistance under the Business Innovation Act that employs workers in Nebraska to submit quarterly wage reports to the Department of Labor, regardless of whether the entity is otherwise subject to the Employment Security Law

Allows up to 5% of Business Innovation Cash Fund appropriations to be used for administrative expenses, and permits fund money to be used for unemployment benefit payments if the Commissioner of Labor determines it necessary