81-12,166. Report; contents; department; duties; analysis of programs; certain records confidential.

(1) The department shall submit an annual report to the Governor and the Legislature on or before July 1 of each year which includes, but is not limited to, a description of the demand for financial assistance and programs under the Business Innovation Act from all geographic regions in Nebraska, a listing of the recipients and amounts of financial assistance awarded pursuant to the act in the previous fiscal year, the impact of the financial assistance, and an evaluation of the act's performance based on the documented goals of the recipients. The report submitted to the Legislature shall be submitted electronically. The department may require recipients to provide periodic performance reports to enable the department to fulfill the requirements of this subsection. The report shall contain no information that is protected by state or federal confidentiality laws.

(2) Beginning in 2020 and in every even-numbered year thereafter, the department shall assess and evaluate the economic impact of the programs funded under the Business Innovation Act and shall include the findings from such assessment and evaluation in the next annual report it submits under subsection (1) of this section. To carry out this subsection, the department shall contract with an organization or entity pursuant to state agency procurement requirements.

(3) Beginning with the FY2021-23 biennial budget review process, the Appropriations Committee of the Legislature shall conduct a biennial analysis of the financial status and impact of the programs funded under the Business Innovation Act.

(4) Applications for funding and related documentation which may be received, developed, created, or otherwise maintained by the Department of Economic Development in administering the Business Innovation Act may be deemed confidential by the department and not subject to public disclosure.

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