Neb. Rev. Stat. § 77-1110

(1) Qualified equity investment means any equity investment in, or long-term debt security issued by, a qualified community development entity that: (a) Is acquired after January 1, 2012, at its original issuance solely in exchange for cash; (b) Has at least eighty-five percent, or one hundred percent with respect to the 2021 allocation, of its cash purchase price used by the issuer to make qualified low-income community investments in qualified active low-income community businesses located in this state by the first anniversary of the initial credit allowance date; (c) Is designated by the issuer as a qualified equity investment and, with respect to awards of the 2021 allocation pursuant to subsection (6) of section 77-1116 , is designated by the issuer as a qualified equity investment under section 45D of the Internal Revenue Code of 1986, as amended; and (d) Is certified by the Tax Commissioner as not exceeding the limitation contained in section 77-1115 . (2) The term includes any qualified equity investment that does not meet the requirements of subdivision (1)(a) of this section if such investment was a qualified equity investment in the hands of a prior holder.