As the Legislature continues advancing bills through committee hearings and floor debate, several measures this week aligned directly with the Greater Omaha Chamber’s economic competitiveness and workforce priorities. From protecting high-paying jobs during major corporate transitions to strengthening Nebraska’s affordability advantage for young professionals, the focus remains clear: ensuring our state remains positioned for long-term growth in an increasingly competitive talent landscape.
On Wednesday, February 25th, LB1165, the Grow the Good Life Act (introduced by Senator Brad von Gillern of Elkhorn), will be heard in the Revenue Committee. LB 1165 is the top priority of the Greater Omaha Chamber for the 2026 session. LB1165 enhances Nebraska’s competitiveness by boosting existing benefits in existing incentive programs, which will apply to any new economic development project meeting certain requirements. At the same time, the billincentivizes key employers already located in the state to expand their base of employees. Furthermore, LB1165 is targeted for times when the state is most vulnerable to job loss – when large employers change ownership hands, orenter into mergers. The Grow the Good Life Act is designed as a tool to retain these jobs and attract additional ones when large employers are at this key point.
For qualification on the retention piece, an employer must meet significant employment thresholds, maintain its Nebraska workforce at no less than 90% of pre-transaction levels, and ensure qualifying employees earn at or above the statewide average wage while receiving competitive benefits. This portion of LB 1165 is limited to major employers experiencing a defined change in ownership or control and applies only within a specified timeframe.
The credit is capped both annually and in total to ensure fiscal discipline, and it may be applied against either corporate income tax or employer withholding liability. Importantly, the incentive is strictly performance-based, if employment levels are not maintained, credits are reduced or recaptured.
By capitalizing on the national opportunity currently underway, the Grow the Good Life Act provides Nebraska with a strategic, performance-based tool to protect high-paying jobs and strengthen long-term economic competitiveness.
Earlier this week, the Greater Omaha Chamber supported LB938, which adopts the First-Time Home Buyer Savings Account Act. LB938 (introduced by Senator Bob Hallstrom of Syracuse) creates a structured savings account program that allows Nebraskans to set aside funds for a first home with a state income tax deduction for contributions and qualified earnings. Rather than creating a direct expenditure program, the bill encourages disciplined, long-term saving to help first-time buyers overcome one of the largest barriers to homeownership: the down payment.
Our support for LB938 aligns directly with the Chamber’s Brain Gain strategy. As highlighted in our January 2026 Omaha Brain Drain and Perception Study, talent attraction and retention is the primary constraint on future economic growth. The research shows that cost of living and housing affordability are central factors in relocation decisions and overall fit, and that Omaha’s strongest competitive advantage lies in its everyday livability and affordability, including the lowest median home value and best homeownership affordability among benchmark metros.
Affordable homeownership is not simply a housing issue, it is a workforce competitiveness issue. For early-career professionals evaluating where to build their lives, the ability to realistically achieve homeownership within a few years of starting a career is a meaningful differentiator. Policies like LB938 reinforce Nebraska’s affordability advantage and send a strong signal that our state is committed to helping the next generation put down roots, build careers, and stay long-term.
If you’d like to hear more about these bills, and other legislation we’re monitoring, our In the Legislative Loop series of Zoom briefing is Monday, February 23 at 11:30 AM. This members-only, biweekly Zoom call provides a 30-minute update on the latest developments from the State Capitol. It will include behind-the-scenes insights from the session as well as a look ahead at key issues coming before the Legislature. You can sign up for the biweekly series here.
To watch hearings on the bills discussed above—or any legislation—you can view live streams through Nebraska Public Media.
While your Greater Omaha Chamber Public Policy team continues its work at the State Capitol advocating for a stronger business climate and advancing the Omaha COMPETES agenda, we encourage you to share your insights on state legislative priorities at advocacy@omahachamber.org.