Section 81-12,186 - Matching funds; filing required; use; repayment; interest; director; powers and duties(1) The right to matching funds prescribed in section 81-12,185 shall be established by filing the forms required by the director. The matching funds may only be used by the applicant to make investments at the project or to pay off debt financing for such investments. Matching funds and private dollars shall be counted towards the attainment of the one-billion-six-hundred-million-dollar investment requirement.(2) Interest at the rate specified in section 45-104.02, as such rate may from time to time be adjusted, shall be due by the applicant on any repayment of matching funds.(3) All interpretations of the Nebraska Transformational Projects Act shall be made by the director.(4) An audit of a project shall be made by the director to the extent and in the manner determined by the director. The director may recover any matching funds which were erroneously allowed by issuing a repayment determination within the later of three years from the date the matching funds were paid or three years after the end of the continuation period.(5) Any determination by the director that the applicant does not qualify, that a location is not a qualified location, that a project does not qualify, that a private-dollar donation does not qualify, or that matching funds must be repaid may be protested by the applicant to the director within sixty days after the mailing to the applicant of the written notice of the proposed determination by the director. If the notice of proposed determination is not protested in writing by the applicant within the sixty-day period, the proposed determination is a final determination. If the notice is protested, the director, after a formal hearing by the director or by an independent hearing officer appointed by the director, if requested by the applicant in such protest, shall issue a written order resolving such protest.Neb. Rev. Stat. §§ 81-12,186
Laws 2020, LB 1107, § 102.Added by Laws 2020, LB 1107,§ 102, eff. 1/1/2021.