NE LB1156

Creates a 50% nonrefundable income tax credit for cash contributions to qualifying organizations (community development financial institutions or innovation hubs) that fund projects in economically distressed areas, with unused credits carried forward up to five years

Caps total tax credits at $26.5 million per calendar year, allocated on a first-come, first-served basis by the Department of Economic Development

Authorizes grants to eligible developers (fewer than 50 employees, annual revenue under $5 million) up to $500,000 per project or 10% of total project costs, with a statewide cap of $20 million per fiscal year

Eligible uses include affordable commercial/mixed-use development, site remediation, gap financing, industrial facilities, workforce training, sustainability improvements, and business incubator programs in qualified census tracts or areas with 150%+ unemployment and 20%+ poverty rates

Becomes operative for taxable years beginning on or after January 1, 2026, with annual reporting to the Legislature and relevant minority affairs commissions