NE LB999

Creates the Business Innovation and Startup Commission to support entrepreneurship, startups, and business innovation through planning, coordination, and grant programs across Nebraska

Commission membership includes state innovation hub directors, representatives from rural small businesses (≤$5 million annual revenue), chambers of commerce, venture capital/angel investors, research universities, manufacturing/ag-tech sectors, and minority-serving organizations, with nonvoting members from the Departments of Economic Development and Labor

Governor must make appointments within 60 days of the act's effective date; members serve 4-year terms (maximum two terms) without compensation but with expense reimbursement

Establishes the Business Innovation and Startup Fund to receive legislative transfers for grants supporting startup formation, commercialization, capital access, and technical assistance in both urban and rural areas

Requires annual reports to the Legislature beginning December 1, 2027, detailing grant awards, progress on ecosystem development, and measurable outcomes related to startup formation and participation by underserved communities