LINCOLN - A Nebraska governor would have a “quick action” fund to help close deals on new “high impact” businesses or expansions of companies under a bill given narrow, first-round approval Thursday, April 7.

State Sen. Brett Lindstrom, the sponsor of the bill, said the governor of Oklahoma has used its "quick action closing fund" to finalize multimillion-dollar business deals.

Roughly $14 million has been dolled out to seven companies over the past decade, $3 million of which helped convince General Electric to build a $125 million research center.

Lindstrom said the closing fund could be another method for the governor to expand and recruit businesses.

“We have no other way to close the deal,” he said.

Some senators were concerned with the possibility that such a fund could give a governor a chance to hand out political favors.

“Giving this discretion to the governor really turns this into a political football,” said Henderson Sen. Curt Friesen.

Sen. Lou Ann Linehan, who chairs the Legislature's Revenue Committee, said it would give the governor added flexibility to close a deal when the Legislature was not in session.

Under LB729, a study of the businesses' impact on job growth would be conducted prior to the governor being able to provide funds.

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