NE LB638

Removes the $5 million annual cap on incentive payments and eliminates the legislative intent provision restricting General Fund appropriations to operating expenses only

Requires the Department of Natural Resources to apply for a $25 million grant from the Nebraska Environmental Trust Fund prior to the fiscal year 2025-26 deadline, to be paid in five annual installments of $5 million each

Creates a subaccount within the Nitrogen Reduction Incentive Cash Fund specifically for tracking Environmental Trust Fund grant money, with interest earnings transferred back to the Trust Fund monthly

Extends the termination date of the Nitrogen Reduction Incentive Act from December 31, 2029 to December 31, 2030

Declares an emergency, making the act effective immediately upon passage and approval