Nebraska-based covered entity under federal law; incentives or credits; use

A taxpayer that is also a Nebraska-based covered entity as described in 15 U.S.C. 4651 that qualifies under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283, may use earned incentives or credits under the ImagiNE Nebraska Act:

(1) To obtain a refund from the state equal to the amount that the taxpayer demonstrates to the director was paid by the taxpayer after the date of the complete application to repay the principal or interest on revenue bonds issued by an inland port authority pursuant to section 13-3308 ;

(2) To provide financial assistance to public and private sector initiatives that are intended to improve Nebraska's ability to attract microelectronic-based enterprises, especially those incentivized under the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283, by making necessary investments in the semiconductor industry and technologies with extensive microelectronic content, including, but not limited to, grants for the establishment of private sector entities for such purposes within eligible economically disadvantaged areas in Nebraska, as set forth in section 9902(a)(2)(B) of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283;

(3) To provide financial assistance to a community college located in a city of the metropolitan class working in collaboration with private sector partners and any interested university, college, other community college, and technical school located in this state to support education expansion and curricula development in order to meet the needs of the domestic semiconductor workforce in Nebraska as set forth in section 9902(a)(2)(B) of the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, Public Law 116-283; and

(4) For any other eligible use authorized pursuant to the ImagiNE Nebraska Act.