NE LB1165

Expands the definition of "change in ownership and control" under the Key Employer and Jobs Retention Act to include mergers of Nebraska-headquartered companies (with 3,000+ employees for 10 years) with out-of-state entities valued over $25 billion, if occurring between July 1, 2025 and December 31, 2029

Increases the annual wage retention credit cap from $4 million to $5 million for qualifying large mergers, with credits not accruing until January 1, 2030; employers with these qualifying mergers receive funding priority over other key employers

Increases tax credit percentages under the ImagiNE Nebraska Act by 1 percentage point for employers meeting specific criteria: employing 3,000+ full-time Nebraska-based employees and hiring 1,000+ additional employees (at $90,000+ average salary) within 7 years of a qualifying ownership change

Creates a new capital improvement grant program through the Site and Building Development Fund, providing $5 per square foot (up to $5 million total) to key employers for site and building development following a qualifying ownership change, with $5 million General Fund transfer intended for fiscal year 2026-27

Establishes a Department of Labor grant program providing up to $300,000 annually to key employers experiencing qualifying ownership changes for workforce retention and relocation plans