LB164 expands the Municipal Inland Port Authority Act by increasing inland port districts to seven, changing board composition, and creating the Inland Port Authority Fund. It adds “innovation districts,” updates commissioner qualifications, allows partnerships with startups and venture capitalists, and provides grant funding through the Economic Recovery Contingency Fund.
The Nebraska State Senate passed LB164 on April 11, 2024 by a vote of 37 to 6. We have assigned pluses to the nays because this legislation increases government interference in the free market. Expanding such programs increases spending, grows government, and enables it to pick winners and losers through taxpayer-funded grants. Such actions distort commerce and undermine the free-market economy, where businesses should succeed or fail without government intervention.