LINCOLN — A new Nebraska law championed by Jim Pillen aims to crack down on business ties with “foreign adversaries” like China, but it could cost major Nebraska companies valuable state tax incentives. The broadly written measure may apply to firms with subsidiaries in China, putting companies such as Valmont, Lindsay, Fiserv and Werner at risk of losing incentives tied to investment and job creation in the state.

The Nebraska Department of Revenue has notified some companies they may no longer qualify, raising concerns about retroactive impacts and Nebraska’s reliability in honoring incentive agreements. State officials have suggested lawmakers may need to clarify the law to ensure it targets companies owned by foreign governments, not Nebraska-based firms operating globally.

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